CADJPY is in a corrective wave pattern at the moment. As the pair is about to complete the pattern, a possible buy setup has presented itself, as the last wave is expected to rally from the bottom trendline to the top and eventually exit the pattern. Trade carefully. Thanks for taking the time to look at my idea.
Thanks for your analysis!
Here is my view on CAD/JPY if you are interested:
Based on Market Profile (volumes) and Price Action there is very strong swing support at 84.261. The market is in a strong uptrend and this is the closest strong support in the way up. If the market makes a trend correction I will go long from there.
In this support zone there are cummulated heavy volumes of big players who drove the price higher - you can see that in the Cummulative volume profile shown on the right sideof the chart.
There are more Market profile swing and intraday analysis at my profile page. You are very welcome there.
Dale
fstrader1
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@Trader_Dale, Thanks for your feedback and invitation to your page. I am sure that you are quite thorough, but I have not updated this pair since three months ago. That being said, I will have to remedy that ASAP. Thanks again and good luck mate.
Here is my view on CAD/JPY if you are interested:
Based on Market Profile (volumes) and Price Action there is very strong swing support at 84.261. The market is in a strong uptrend and this is the closest strong support in the way up. If the market makes a trend correction I will go long from there.
In this support zone there are cummulated heavy volumes of big players who drove the price higher - you can see that in the Cummulative volume profile shown on the right sideof the chart.
There are more Market profile swing and intraday analysis at my profile page. You are very welcome there.
Dale