So a few days ago i published my analysis on a potential GBPCAD short bias that was just pre CPI data release however i did mention it was quite the risk and i still wanted to see how it would play out and needless to say it took a whole different turn lol.
Not a problem though, its all about probability and the market will always be cooking another setup so we all good!
CADJPY 4 Hour Analysis (14 June 2023)
1. Price is in bullish trend, but it may retest
2. If price breaks KL1 it indicates a strong
bullish strength
3. We can observe bearish divergence with AO
4. If the price breaks trend then we need
to wait for KL2 retest for bearish entry
CADJPY Hour Analysis (13 June 2023)
1. We have important levels as KL1 and KL2
If KL1 breaks, we can get some strong bullish
momentum and for KL2 break a strong
bearish momentum
2. But for any directional break. retest
may happen so we need to wait and enter
3. Near the trendline, we can see consolidation
or range, so the range breakout
can be strong
4....
hello Traders - CADJPY coming into a big Supply/resistance area in the 1.05-1.580 range while approaching the top of a daily channel
Trend is up but we could see a meaningful correction/reversal-
Risk/Reward looks good to me
CADJPY 4 Hour Analysis (7 Jun 2023)
1. Price is with important Fib Levels
2. We can observe some Long divergence
in AO and MACD
3. If price breaks KL1, we need to think bullish
4. If price breaks 0.236 Fib kevel, we
can expect bearish
CADJPY Trading Ideas
1. Price has a strong Bearish momentum
2. Price is in strong supply area
3. We can see divergence with MACD
4. It is pointing a bearish trade
but for confirmation we can wait for
Bearish KL to break
An update on the previous analysis done on this pair. The price has broken bullish structure. Currently a head and shoulders pattern has formed to confirm further bearish move. The next step is to break the neckline (which is currently holding strongly) and a retest for sell signals....Lets see how it goes!
Consolidating market approached the resistance zone with signs of exhaustion. Currently a bullish structure signaled by a bullish trendline has been broken. I would like to see a retest of this trendline but we might not get it.
Proposed CADJPY 4 Hour
1. We have a strong Supply zone created
at day level
2. RBR already formed
3. on the basis of this, we can have two paths
Path 1: Yellow - From Base2 to Base1 then to Supply.
Path 2: Blue - From Base2 to Supply then to Base1
4. MACD Traditional Bearish cross
So, we have to wait.
