Cadjpytrade
CADJPY FINALLY BREAKING DOWN OUT OF WEEKLY BEAR FLAG.1. Price action has broken out of bear flag (with strong volume) and retested previous support.
2. After which Price action broke down again at the 0.618 fibs and broke out of the weekly bear flag and is retesting the weekly bear flag trend line again.
3. Clear short and good probability trade, will be looking to add on size on this one.
CADJPY - Long OpportunityPrice recently broke with a strong bullish push the daily resistance. Came back now for the retest and gave us a strong bullish engulfing candle, breaking the down trend line of the correction. Now it came back to retest the broken down trend line and showed again some strong bullish presence. Price is also located between the 50 and 61,8 levels os fibonacci of the daily chart push. I`m going Long.
CADJPY OUTLOOK w bullish outlook1. Retest of previous weekly structure.
2. Next week we see important CAD data coming in. I have a bullish bias on the CAD GOV hiking rates. So a bounce off this structure for me is expected.
3. Good RR with SL below structure.
*Anything can happen to bullish bias does not mean shit unless we have decent price action around the structural support area.
*Pullback volume is also higher compared to the wave up so next week we will need to determine whether the selling pressure is still there.
CADJPY -SELL BEFORE THE NEXT BULL RUNCADJPY has broken the Fibonacci retracement
level of 0.618. i am expecting this to down to 0.382
which will intersect with the blue support line i have down
thou Stoch RSI has gone into oversold territory i am still expecting some more fall before a bounce back
this will be a strong buy after the final retracement
See previous analysis
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CADJPY {Upcoming Move}CADJPY is in that area where there will be a nice move coming. Looking to see if price continues to be respected back to upside, or a break lower for a retest to sell back down to next zone. Obviously momentum is moving downside, so it would be better to take sell positions until otherwise. We are also sitting on the 61.8 retracement.
Be patient and wait for the market to show you which way it wants to go. Don't jump the gun.
CADJPY Bigger Picture View Down To H1 Time Frame - Good Setup!Weekly (pink): We are currently in wave 4 of the weekly structure. I expect wave 4 to complete to the top of the structure before we will see whether there will be a break of the structure to the upside on this wave or whether there will be a 5th wave to the downside first.
Daily (blue): We are in wave 3 of the daily structure. Interestingly the target for wave 3 is at the same point as wave 4 of the weekly structure. This indicates a strong possibility that the price will move to that target.
H4 (green): The structure that has formed on the H4 time frame doesn't completely tie in with the bigger picture view as it has a bearish formation. I expect that there may be an extension in wave 5 which will complete the larger structure views.
H1 (red): I am sitting on my hands at the moment and waiting for the H1 corrective structure to unfold. As things stand now, I am expecting to see a 5 wave structure formation which would complete at the bottom of the green H4 structure. I will be looking for the long entry from that point.
Contact me via direct message for any assistance required. Analysis on all the majors and their crosses available
Happy trading!
Linton
CAD JPY possible break of rangeAs you can see in the picture price on the daily timeframe is possibly going to break out of the range and a well respected support and resistance level.
We will wait for close of daily candle before we send out ENTRY, SL and TP to our clients.
If you are interested in joining us you can inbox us.
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