CADJPY OVERVIEW

Tendency: Temporary Downtrend ( Bearish )
Structure: Channel | Supply & Demand | HSH
Observation: i. Impulse Leg XA (June 2015) incites what appears to be the beginning of a parallel Channel.
ii. Retracement from point A culminating @ 618 (92.000level) launches another Channel within a Channel.
iii. Price has rejected 86.000/92.000 zone since Sep 2016 confirming a very strong Supply zone.
iv. An HSH structure is noticed within the parallel Channel (indicated on the chart within a green circle) suggesting a downtrend continuation.
v. Expecting price to break Demand zone for our signal.
vi. Price below our Moving Averages.
Trading plan: SELL opportunity with a minimum potential profit of 1,200 pips.
Risk/Reward: 1/2.5
Potential Duration: 6 to 8 weeks

NB:
Trade is for position traders as this is a long term plan; However, watch this space or Telegram channel for opportunities and updates on lower time frames as price action is been monitored.


FREE TELEGRAM CHANNEL:
Subscribe and join the winning team @ nirvanaforex to get free weekly signals, real-time trading tips and updates






Nirvana! Forex
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by Nirvana Trades & Investments for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and NFTI takes no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
NFT&I does not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.