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Cadjpyshort

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 : Current Situation & Technical , Fundamental View#CADJPY - CADJPY is currently selling after a STRUCTURE BREAK because the current MARKET SENTIMENT is NEUTRAL. Somehow, JPY is becoming somewhat STRONG. Similarly, the YEILD given by the BOJ to JP10Y increased, making the JPY STRONG. - The reason for that is because the Central Bank of Japan did not intervene in the long term to strengthen the JPY, they are strengthening the JPY in other ways without raising the rate. Meanwhile, the price of OIL has gone down a bit, so the CAD has become very weak in the last few days. Anyway, as expected in the BOC RATE DECISION the other day, the RATE HIKE was done. - But somehow the CANADIAN CENTRAL BANK has become HAWKISH. Therefore, CADJPY should definitely be slightly UP until the 105.00 LEVEL. Before that, there is definitely a very high possibility to sell to 98.78 LEVEL. So FOLLOW STRUCTURES. If JPY becomes strong, it can sell at 93.01 level.
by benny_marshall
CADJPY PLAN!Hello traders around the world! I want to talk about CADJPY and what I'm planning on this pair for this week. First of all, If you go back to the weekly chart, you can clearly see that the price reached a mass psychological level since Dec 2014 (106.501). On Monday 18 Apr 2022 the price started to create an ascending channel till Monday 07 Nov 2022 reaching the mass psychological level since Dec 2014 (106.501). The price broke to the downside impulsively and might be currently forming a bearish correction. Now, moving to the 4H Timeframe, we have two rejection lines: 1st one: 101.204 2nd one: 100.863 We can also draw an upper trend line If we connect these previous two prices & we can see that the current price is just under the upper TL. I am currently looking for a reversal pattern on the 1H chart for a short position. I am also considering the rejection lines as mentioned before. Patience is key. #THEPRIMES
Short
by alex_k_95
CADJPY Movement Within the HOLY GRAILPrice will be contained within arc SV and UW long term. Is the duty of the analyst to determine the various turning points within the arcs. As vector UV moves along arc SV indicating the TOPS. TOPS ( Price Unit) 1. 359.7 ( 354 Lunar sequence ). Double top formed on 17 oct 2022 ( 6 weeks apart ) 2. 263.64 ( 278 Lunar sequence). Double top confirmed 10 apr 2023 ( 6 weeks apart) Next Expected top = 203.93 ( 219 lunar sequence ) CORRECTION BOTTOMS ( Price Unit ) 1. Double Bottom within 16 Jan 2023 and 20 mar 2023 ( 9 weeks apart ) 206.17 ( 219 lunar sequence) 2. Next Expected bottom = 185.29 ( 172 Lunar sequence) Use strict SL slight above 101.558 TP @ 92.535
Short
by WU_WEI-CAPITAL
CADJPY: Appears to be in a corrective phaseWe have witnessed a significant bullish ride on the CADJPY pair from the low of the 24th March at 94.069 to the high of 31st March at 98.745, accounting for over 450pips move. After this rally, it appears that the move has reach a termination point, where correction of the 467Pips bullish move is expected. My expectation of the corrective downward move is based on the following market realizations: 1. The formation of a bearish crab harmonic pattern on H1 TF. The long AB axis, confirming the possibility of an extended Wave 1. 2. Price divergence. (This divergence occurred on my indicator vs the price). This lend credence to the fact that buyers may be getting exhausted. And sellers are about stepping in. 3. The formation of rejection candles to the upside. Based on these parameters, I will be entering short on the pair with a target to 97.164 region, which also coincides with my fib golden ratio. I'm also aware that the corrective wave could be a flat and we may see a temporary price rally to 98.830, but my overall outlook is bearish until the correction is over.
Short
by Samuel124
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