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Cadjpytradingsetup

CAD/JPY = The House of SellersThis pair had been trying to rally past the daily resistance over the past few weeks but failed to do so. With confirmation from the tested resistance levels on Daily (Tested thrice), it is safe to assume that buyers are no longer in-charge to push this pair higher to to resume its bullish movement. Nonetheless, the pair had been going down ever since the incident aforementioned. As of indicated, the pair is rallying up and down in a box (Zone) between 89.860 - 89.420. If the price manage to break the weak support at 89.420, rest assured that this pair is going to bleed further down to our First Targeted Take Profit Level 1. Upon reaching the targeted take profit level 1. It's worth noted that the price action had to break the Level 1 zone before further pushing it to the level 2 zone as the Level 2 take profit zone is a near reflection of the Weekly Support level which gives us a huge idea on the pair's price action movement. However, let's not forget that the weekly candlesticks showed a superbly strong reversal signs which supported the Daily Bearish movement since 91.220. Way too go sellers ! Thus, here is my short rules as mentioned below Buy/Sell = Sell (Short) Pips: Potential of 3000+ pips run (If there is no rallies in between the downstream). Targeted TP Level: Level 1 (Safest). (Level 2 if Level 1 Breakout happened). Lot Sizing: Your prefer risk-reward settings. My risk management is in between 1 - 3 %. Confidence level: 1 - 10? (10 Max out). Technical or Fundamentals: Pure Technical. Fundamental will help push it down moar ! Have fun trading and let's profit together :)
Short
by maggedon
Possible push higherAs seen on the graph represented for you, the 2-hr ascending trend line has still been intact. Whenever it has broken a consolidation, it has allowed to push higher... then back to consolidation before any push higher. Due to the recent events of the Bank Of Canada wherein it has applied a rate hike after years of keeping the rates intact, the Canadian Dollar has strongly pushed higher on several of its Forex pair despite the slow recovery of the Crude Oil (WTI and Brent).
Long
by bearvsbullmarket