Get started

Cadjpyanalysis

CADJPY PLAN!Hello traders around the world! My name is Alexandre Karim and today I'll be showing you my plan on CADJPY. First of all if we go back to the weekly chart, we can clearly see that the price reached a mass psychological level at 106.420 since December 2014. The price formed an ascending channel, corrective to the upside from May 2022 till November 2022 & reversed to the downside. The gravity was clearly to the downside and back then we were planning for shorts. Moving to the 4H chart, we can see that this pair is currently giving us an expanding channel + an ascending channel inside of the structure. I am planning for a short position in these two areas: 1) The ascending channel which is corrective and very disciplined showing us clear touches on the upper TL. From this area, I'll be waiting for an hourly reversal pattern or an inner structure inside this ascending channel. 2) Waiting for the price to reach again the upper rejection line which is approximately at 110.520. From this area, I'll be also waiting for an hourly reversal pattern (Could be an ascending channel that will move correctively to the upside + sideways) Always wait for the best set up to happen and have patience. #ThePrimes
Short
by alex_k_95
CADJPY PLAN!Hello traders around the world! My name is Alexandre Karim and today we will be talking about CADJPY. CADJPY is forming an ascending channel on the higher timeframe and following multiple touches on the upper TL. I will be focusing on the short on these 2 areas: 1) High of the middle section at (101.791) 2) Third touch on the upper TL at around (102.700 / 103.500) In these two areas, I'll be focusing on taking a reversal pattern for a short position. If the price breaks the lower TL around (100.300) area, I'll be waiting for a continuation pattern for more downside. Patience is key. Wait for quality set ups. #THEPRIMES
Short
by alex_k_95