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CADJPY Trade IdeaThe CADJPY has exhibited sustained bullish momentum in recent times. However, price appears overextended currently, suggesting a potential retracement could be on the horizon. Should price dip back into the 61.8% Fibonacci retracement zone, a buy opportunity may emerge. Prior daily swing highs could act as potential target areas (as depicted on the chart). Important Disclaimer: This analysis is for educational purposes only and should not be construed as financial advice. Please conduct your own due diligence and risk management before making any trading decisions.
by fxtraderanthony
7 Dimension Analysis for CADJPY 🕛 TOPDOWN Overview A robust rejection at the daily timeframe, coupled with an H1 Change of Structure (COS), suggests the end of the short-term bullish move. 😇 7 Dimension Analysis Time Frame: H4 1️⃣ Swing Structure: Initially bullish but rejected at a potent daily Point of Interest (POI) 🟢 Structure Behavior: Change of Structure (Choch) 🟢 Swing Move: Impulsive 🟢 Inducement: Completed 🟢 Internal Structure: Completely bearish 🟢 Ext OB: Unmitigated 🟢 Supply Zone Rejection: Observed 🟢 Traps: Fakeout at the top and supply area 🟢 Time Frame Confluence: Daily and H4 2️⃣ Pattern 🟢 CHART PATTERNS: Reversal pattern with a double top and liquidity sweep, indicating a potential reversal 🟢 CANDLE PATTERNS: Fakeout reversal after a Record Session count, Momentum with strict engulfing at the top, Tweezer pattern with liquidity sweep, Tower Top pattern observed with Climax players presence and follow-up, increasing chances of reversal 🟢 Gaps and Other Patterns: To be observed at the opening 3️⃣ Volume 🟢 High volume on the fakeout candle and substantial volume at the swing's start and high points 4️⃣ Momentum RSI 🟢 Zone: Sideways 🟢 Range Shift: Almost shifted from bullish to sideways 🟢 Divergence: Significant divergence found at the top level and rejection areas 5️⃣ Volatility Bollinger Bands 🟢 Middle band acting as resistance 🟢 Squeeze breakout and walking on the band awaiting 🟢 M pattern observed at the top 6️⃣ Strength According to ROC 🟢 Values: CAD 1.12 vs. JPY 2.88 7️⃣ Sentiment ☑️ Trend line breakout awaiting, but on the trigger time frame, it's already done 💡 Decision: Open a sell position right at the open 🚀 Entry: 108.489 ✋ Stop Loss: 109.333 🎯 Take Profit: 102.1 2nd Exit if Internal Structure changes, also Exit 3rd Trendline Breakout, FOMO 😊 Risk to Reward Ratio: 6 🕛 Expected Duration: 30 days SUMMARY: The analysis indicates a reversal opportunity. The sell position is recommended with an entry at 108.489, stop loss at 109.333, take profit at 102.1, and a risk-to-reward ratio of 6, expecting completion in approximately 30 days.
Short
by Optimum369
8
CADJPYThe market has breached below the support overlap, signaling a potential reversal towards the take-profit level. To take advantage of the increasing selling pressure, it is advisable to initiate a sell position at 106.996, aligning with the resistance overlap. Recognize the support level at 105.413 as a point for a potential pullback. Caution is advised when trading Forex with margin, as it involves significant risk and may not be suitable for all investors. Exercise prudence.
Short
by HUMCRYPTOCLUB
CADJPY LONG TERM TRADING IDEAHello Traders In This Chart CADJPY HOURLY Forex Forecast By FOREX PLANET today CADJPY analysis 👆 🟢This Chart includes_ (CADJPY market update) 🟢What is The Next Opportunity on CADJPY Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
Long
by ForexPlanet20
CADJPY Long Term SELLING Trading IdeaHello Traders In This Chart CADJPY HOURLY Forex Forecast By FOREX PLANET today CADJPY analysis 👆 🟢This Chart includes_ (CADJPY market update) 🟢What is The Next Opportunity on CADJPY Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
Long
by ForexPlanet20