CADJPY Potential Bullish ContinuationOn an hourly timeframe, CADJPY printed a series of Higher Highs and Higher Lows. Using Fib Retracement tool, an Entry Price along with Stop Loss and Take Profit levels are suggested
CADJPY trade ideas
Inflation Deflator Indicator Signals Sell for $CADJPYID has printed a 1h sell signal. Price just rejected off 4h supply zone. Should be a solid short from this price.
CADJPY WILL TRAP BUYERSin my analysis it is clear that there is a fake out in the resistance area and has the potential to drop to take liquidity below, buyers will be caught in a trap in this trade
Week 1 Dow Theory: Idea 3The CAD/JPY pair is exhibiting strong bullish signals within a defined range from 109.8 to 112.26, indicating potential for profitable trading opportunities. With a careful analysis of the market dynamics, a strategic trade plan has been formulated to capitalize on this upward momentum.
Entry Point: Identified at 110.27, this entry point aligns with the bullish sentiment observed in the chart, signaling an opportune moment to initiate a long position.
Stop Loss: Positioned at 109.96, the stop loss is strategically placed to mitigate potential losses in the event of an unexpected reversal in the market.
Take Profit Levels:
TP1: Set at 111.4514, this target represents a calculated point where partial profit can be secured, maintaining a Risk Reward ratio of 1%.
TP2: Positioned at 112.6328, this target allows for further profit maximization, maintaining a Risk Reward ratio of 2%.
Lot Size Calculation:
Based on a trading capital of $10,000, a lot size of 0.13 has been determined, ensuring optimal risk management and capital preservation.
CADJPY: Weak Market & Bearish Forecast
Looking at the chart of CADJPY right now we are seeing some interesting price action on the lower timeframes. Thus a local move down seems to be quite likely.
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Short Opportunity on CADJPY According To Uptrend / Reversal Pattern / Divergence ON CCI / Reversal Price Action On Daily /Fibo Retracement to 50 and 61% .
CADJPY Triangle break-out buyThe CADJPY pair delivered us a very strong buy opportunity last time we made a buy call on it (December 22 2023, see chart below) :
Moving back to the 1D time-frame, the pair has been trading within a Channel Up pattern since the December 07 2023 Low. Currently on its 2nd Bullish Leg, the price has entered a Triangle consolidation, similar to the pattern of January - February.
So far the fractals appear to be quite identical as following a +3.34%, the price pulled-back to the 0.382 Fibonacci retracement level, which is at the moment holding. As long as it continues to do so, we expect a bullish break-out similar to February's towards the -0.382 Fib extension, hence our Target is 113.500.
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Waiting for a possible reversalExpecting a completion of the rising wedge pattern and reversal in the trend. This could be possible because it would be a retest of the recent higher high on the daily timeframe.
Trade entered into a short Took a short on this pair as the market structureshows me bearish moves to the downside to fetch some liquidity and then to eventually rise back up past the current high. This is my new strategy and so far, I am seeing great results :).
Short to the support zone :)I believe my new strategy to be around 70% accurate, waiting for a reaction from the area of where my short is placed, I will also make sure that when a rejection occurs, I enter when I see a BOS on a lower time frame, such as 5 minute or 1 minute, just for double confluence :). The trend is bearish and I believe the support zone I have marked out, is unmitigated :)
CAD/JPY - Anticipating Downside Breakout from Key Support AreaOverview:
CAD/JPY has exhibited a significant pattern formation, indicating a potential shift in market sentiment. The XABCD Gartley harmonic pattern has materialized, with a notable rejection occurring at point D, coinciding with the critical level of 112.000. This rejection aligns harmoniously with the 4-hour Bearish Trendline, reinforcing the significance of this resistance zone.
Analysis:
The current price action finds itself positioned at a pivotal juncture, hovering around a key support area. This confluence of technical factors suggests a heightened probability of a downside breakout from the support zone. As such, prudent traders are advised to anticipate a continuation of the bearish momentum.
Trade Recommendation:
- Entry: Optimal entry presents itself upon a re-test of the price near 111.500, offering an opportune moment to enter short positions.
- Stop Loss: To mitigate potential losses, a stop loss is advised at 112.000, safeguarding against adverse market movements.
- Take Profit Targets: Targeting downside objectives, the first take profit level is set at 111.070, followed by a secondary target at 110.620.
Conclusion:
In conclusion, the technical outlook for CAD/JPY suggests a favorable opportunity for bearish positioning, supported by the convergence of the XABCD Gartley pattern and the 4-hour Bearish Trendline. Traders are encouraged to exercise disciplined risk management and adhere to the specified trade parameters to capitalize on the anticipated downside breakout.
Disclaimer:
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. Past performance is not indicative of future results.
CADJPY SELL TRADEFX:CADJPY going down and might break the support too, but for now stick with this tp and i hope y'all get lucky!!
ATTENTION : forex trading is professionally studied and it's not based on luck, any attempts to enter any trade requires patience, studying, and relaxation so u don't stress out
CADJPY selling momentum opportunity...Is this is the time for a big short??? CADJPY was building up for quite some time. The question is, shall we pull the trigger and short now???
CADJPY is sellingFOREXCOM:CADJPY OANDA:CADJPY FX:CADJPY
CADJPY is reach the selling power area, we aim to sell now
Setup Sunday 31-03Happy Easter everybody!
Last week was very calm, for the next week I'm expecting a bit more action
4 purple pairs
3 green pairs
and 2 orange pairs
Good luck everybody!
Happy trading! :)
Lingrid | CADJPY long from supportThe price perfectly fulfilled my last idea. It hit the target. FX:CADJPY is about to potentially break through the downward channel border and update highs. The market formed some compression patterns. I expect a short-term rollback to the support level, then growth from the support level to recent higher highs. My target is the resistance zone at 112.275
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
Long CADJPYSentiment is in favor of bulls. This is my technical perspective. I believe this is a great area to purchase this asset at a discounted price.
CAD JPY TRADE SET UP CAD JPY trade set up,
Trade confluences
1 Bouncing from a support level
2 Higher Highs and Higher Lows are currently forming so we are only looking for buy entry at the retest of the broken HIGH key level.
Buy idea Price is trading above 50% of 1w channel.
sentiment is currently bullish, I expect a pull back to the areas marked before price pushes on up.
