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CADJPY

CADJPY Can Be Finishing Corrective RallyCADJPY pair is trading nicely as expected for the last couple of weeks. It turned aggressively down with five wave cycle from 110 area. A decline that suggests more weakness but after a corrective rally, as we already shared back on March 27. We know that corrections are made by three waves A-B-C that is now in full progress with already wave C in the making. Ideal resistance comes around 50% - 61,8% Fibonacci retracement, so keep an eye on 102 - 104 resistance zone, where bears may show up again.
Short
by ew-forecast
1
CADJPY Trade! Before / After.Hello traders around the world! My name is Alexandre Karim and today I am going to tell you how I took my double short position on CADJPY. In my previous analysis on this pair (Shared Apr 18), I was looking for a reversal pattern in this area since we are on the third touch of the upper TL. The price went up correctively reaching this area & gave us a double top as well for more confirmation. Therefore, the pattern that I took (First short position) was the break out of the hourly ascending channel and I sat my SL above the previous high (100.664). When the price gave us the first impulse all the way down to (98.930) I moved my SL to Break Even. The second pattern / second position that I took was the hourly bearish flag signaling a continuation to the downside. My entry was at the break out of the structure (Bear flag) + my SL at (99.588) above the previous high. Then moved my SL to BE when the price gave us the impulse to the downside. Currently both of my positions are at BE now and I will be waiting for 1 hour corrections to lock above them and secure % Patience is key. Risk management is crucial. Aim for quality trades. #THEPRIMES
Short
by alex_k_95
CADJPY - 4hrs ( Sell Trade Target Range 240 PIP ) 💲Pair Name : CAD/JPY 🗨Time Frame : Daily ➕Scale Type : Large Scale ------ 🗒 spreading knowledge among us and to clarify the most important points of entry, exit and entry with more than 5 reasons We seek to spread understanding rather than make money ✔️ Key Technical / Direction ( ↘️ Short ) Type : Mid Term Swing ——————————— 🔰Bearish Break 98.750 Area Reasons 🔘- Major Turn level 🔘- Visible Range Value 🔘- Pattern Break Out 🔘- Trend Break 🔘- Day / Week low break 🔰Bullish Reversal 96.200 Area Reasons 🔘- Major Turn level 🔘- Visible Range Value 🔘- Fixed Range Q / Value 🔘- 2 Q / 3 Q Low 🔘- Pattern Target 🔘- Fibo Golden
Short
by GoldenEngine
1