CADJPY Due For Corrective MoveMomentum is turning bearish on the 4hr time-frame and depending on the weekly close (bearish candlestick) we may see a tweezer top on this pair and for a further corrective move lower.
Happy Trading folks!
Cheers!
Canadianyen
CADJPY Breakout!A break-out trade on CADJPY that if it continues on an uptrend it could easily take out our target near the highs.
Happy Trading folks!
Cheers!
CAD/JPY GARTLEY PATTERNPrice Action (Technical Analysis): Here we see price is forming a Potential Gartley Pattern in the 30MIN-4HR. I'd like to see price rally around 80.50-80.55ish and gain confirmation to go short if price action tells me so. (Bearish Candle Stick Reversal Confirmation) This trading idea is invalid once our D leg breaks above X.
Fundamental Analysis: None.
CAD/JPY UPCOMING WEEKLY BREAKDOWN ANALYSISPrice Action (Technical Analysis): After a bit of a crazy week for the FX Market due to Fundamentals. Price moves and closes at a very interesting zone which would be our Weekly Mid-Range Zone, this zone tells us that we can expect 1 of 2 options. If price breaks below this zone we can expect price to find its way to our New Support, let's say Sellers decide to push price continuously lower for a fake out to the upside, then we can anticipate buyers to enter, testing our well respected descending trend-line.
Either way the market sets us up exceptionally for a High Risk to Reward Trade.
This Top to Bottom analysis is very simple, it's very easy to over-complicate analysis's so this weeks approach will be simplified with Structure & Trend Skills.
Fundamental Analysis: A pair that compliments our analysis day in and day out would be USD/JPY, we see a positive correlation between the pairs and the Greenback has a bit of a bumpy week itself dropping about 250-300 pips towards the closing of the week. Both the Canadian/Yen & Dollar/Yen are sitting in a Neutral Zone. We know the Loonie is highly motivated by Crude Oil because of Canada's Energy Exports so for this pair. We Identify & Analyze Crude Oil in order for us to have a more confident approach. Oil analysis will be dropped Tomorrow for further confirmations for Cad/Jpy.
Every Saturday/Sunday I drop a Watch-List on my Trading Instagram @ RiosTrades. Every week I will drop a Watch-List for High Probably & High Risk/Reward Ideas. All the support goes a long way and never goes un-noticed. Thank You! Enjoy this week.
