Get started

Cadjpysell

CADJPY, 4hr timeframe, bearish divergence in descending channelHello my friends, I found something interesing in CADJPY pair just now. It looks like this pair forming a small bear flag inside a descending channel on 4hr timeframe. Previously i took a buy position on this pair but i closed it on entry as it is going sideways for some time and no power in going up. Price already broken below the channel with a solid candle in the last 4hr candle close. We could expect price to continue going down from this point as there is another zone which acted as resistance. Noticed there is also 50-EMA at this zone so we could say this is an area of confluences. Sell CADJPY 80.05 Stop loss 80.45 Take profit 1 @79.55 Take profit 2 @79.05 Risk only 1-2% of your equity Use proper risk management Good luck
Short
by HayatoDragonFX
CADJPY - BEARISH BIAS (1:1 RISK REWARD)CAD - BEARISH 1️⃣ WTI oil prices extended the decline in the morning trade in the US, falling more than 2% to below $42 per barrel amid increasing doubts over a recovery in fuel demand after the Fed painted a gloomy outlook for the US due to the coronavirus crisis. 2️⃣ OPEC said that a second prolonged wave of the coronavirus is a major risk for the recovery in the oil market. JPY - BULLISH 1️⃣ Investors moved into the safe-haven Yen as minutes from the Federal Open Market Committee revealed concerns about the US economic recovery. ===== TECHNICAL ===== - We shorting this pair on breaking of current support level in M30 chart + SMA100 area. - CADJPY in bearish zone. ===== RISK TO THIS TRADE ===== - This trade tends to hit stop loss if current market sentiment switch to risk appettite mode. ===== MONEY MANAGEMENT ==== - Please use only 1-2% risk per trade from your equity.
Short
by MonsunAsia
CADJPY, daily timeframe, Bearish Flag trade setupHello my friend, There is a nice trade setup in CADJPY which could give us a worthy RR. I notice a bearish flag on the daily timeframe of CADJPY. Price already broken below the support as well. Right now price retrace up to 61.8 fibonacci level and this is actually a nice area to try selling it. I am going to play patiently on this pair and waiting for price to retest until 79.55 area as there are 78.6 fibonacci retracement and 200-EMA on that place as well. I am setting a pending sell order for this pair. Sell CADJPY 79.55 Stop loss 80.25 Take profit 1 @78.70 Take profit 2 @77.85 Take profit 3 @77.00
Short
by HayatoDragonFX