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CADJPY

📚 Understanding Price Action - Impulsive & Corrective Moves 📚For every currency pair, all the price action can be broken down into 2 different waves. Impulse waves and corrective waves. Both of these waves have the same patterns within them such as flags, ascending/descending corrections, channels etc. The tip to finding out what phase we're in is to zoom out to a bigger timeframe and look at price action as a whole and ask yourself "is this impulsive or is this corrective". Once you understand that, you can more often than not understand where price will be going next. For CADJPY, we are in a flat ABC triangle and we are approaching the upper limits of the triangle. We also are in an ABC correction. On the smaller timeframe, if things line up, we can get in at the very top of the impulse and ride this back down! Try spotting corrections and impulses and watch how your chart game levels up!
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by WicktatorFX
11
CADJPY – Buyers in front of positive and save wavesWelcome to our Academy. We’re here to help you achieve what you have been looking for. Use our free analysis where you have everything you need for potencial trade ideas and profit. CADJPY – Buyers in front of positive and save waves Trend: Strong Buy Support/Resistance: R4: 86.294 R3: 85.492 R2: 84.616 R1: 83.938 S1: 83.557 S2: 82.910 S3: 82.144 Price action: Price is moving very slowly and is trying to get bounce at current price at 83.877 where is last higher high. That means we are at very strong decision spot, where the flow will come up to decision. Because price got up at recent higher high level, it has to retrace from first support at 83.557 level and then move up to first resistance level which is at 84.616. If the price is able to hold above first resistance level, then buyers have open area to higher targets we mentioned below. At the moment this currency pair is more bullish then bearish, from many different courners that every Elite trader have to recognize by using Elite strategy. Potencial trade idea: Bulls targets: T1: 84.616 T2: 85.492 T3: 86.294 Bears targets: T1: 82.144 NOTE – We are trading CADJPY via the preferred trading setups by EliteFxAcademy Disclaimer: Martin’s views on the Chart analysis is ment as a trading advice for education terms; Education terms include: trading consistency to everyone who is reading this blog; for every advance student and for every Elite student who is using this analysis for managing his equity by Elite strategy and custom indicator. This analysis is understandable and transparent for all Elite students. This is a free content which is based from Academy in term of transparency to support and following progress to everyone. We know that there is always possible way that market can pull you out even when you follow our analysis blog and advice for a trade. We don’t publish where you have to have your risk management – Stop Loss, because, it would not be fair to Elite members, who learned this techniques in our Elite course. Keywords: Elite strategy, Custom Indicator, Fundamental Analysis , Tehnical analysis, Price action, Advanced strategies, Trading Education Good trading! Elitefxacademy
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by EliteFxAcademy
CADJPY – Sellers will soon show good position for sell if...CADJPY – Sellers will soon show good position for sell if the price will maintain below new resistance Trend: Strong Sell Support/Resistance: R3: 81.200 R2: 81.838 R1: 81.634 S1: 81.402 S2: 80.840 S3: 80.252 S4: 79.817 Price action: Market start showing potencial reverse flow, from buy to sell. We have to be carefull from now to the London section, but if their we see potencial entry, which might be very soon, then next targets are optimistically short targets. If sell is failed, then we might see holding around this area. Remember that news will be reliesed at 2.30 GMT +1 Potencial trade idea: Bulls targets: T1: 81.200 Bears targets: T1: 80.840 T1: 80.252 T1: 79.817 NOTE – We are trading CADJPY via the preferred trading setups ELITEFXACADEMY Disclaimer: Martin's views on the Chart analysis is ment as a trading advice for education terms; Education terms include: trading consistency to everyone who is reading this blog; for every advance student and for every Elite student who is using this analysis for managing his equity by Elite strategy and custom indicator. This analysis is understandable and transparent for all Elite students. This is a free content which is based from Academy in term of transparency to support and following progress to everyone. We know that there is always possible way that market can pull you out even when you follow our analysis blog and advice for a trade. We don't publish where you have to have your risk management – Stop Loss, because, it would not be fair to Elite members, who learned this techniques in our Elite course.
Education
by EliteFxAcademy
CADJPY – Sellers trending continuationTrend: Strong buy Support/Resistance: R2: 83.867 R2: 83.548 R1: 83.125 S1: 82.785 Price action: Buyers rebounce hard after sellers retraced from supportical level at 82.785. Sellers might be quite for a while, till buyers complitally get tired. Next buyers targets will show us strenght and decision how sellers will react after. Potencial trade idea: Bulls targets: T1: 83.548 T2: 83.867 NOTE – We are trading CADJPY via the preferred trading setups by EliteFxAcademy
Education
by MP4
Trump tradingIn the screencast I start off with the USDollar index and look at the Yen. The US Dollar strength affects 'everything': forex markets, stock markets, and commodities. There are inverse correlations. Most of the times the DAX doesn't like a strong Euro, Wall Street doesn't like a strong Dollar, and the NIFTY doesn't like a strong rupee. There are reasons for this overall pattern - which understanding of it doesn't really help much. The point is that traders can gauge probabilities based on the strength of various currencies. The Yen and the US Dollar are safe-haven currencies. This means that in times of stock market corrections and crashes, expect these two to strengthen (in general). The correlations are not perfect. Overall I'm refining a very different system of following trends using the Vervoort and the Variable Moving Average (both freely available on Tradingview).
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by Captain_Walker
Mentality and Sticking to Your PlanDISCLAIMER: Hi everyone, I'm new to trading and this is just a log book for me on applying everything that I have learned and continue to learn as I go along. That being said, I do not advise you to base your trading on these "ideas". Last week I published a small "idea" for a quick scalp on the CADJPY. I noticed an uptrend that I didnt expect to go past a certain Resistance level from a few months back. I set my Take-Profits and Stop-Losses at fare prices, and hit my Take-Profit. I was happy with my trade but, being the amateur that I still am, I not only left money on the table but I didn't stick to my plan. I looked for what would have been another opening, which turned out to be a correction that hit my stop loss as soon as the market opened (thanks to a huge gap). Not only did I loose the profit from my previous trade, but the price rose up and came back to where I wanted it to be all along. I have yet to lean how to keep emotions out, and set myself into the right mentality. But I do know that it is something that we all must learn to be succesful traders.
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by EdwardFabianRamirez