jolicoeur342

CADJPY - LONG OR SHORT

FX:CADJPY   加元 / 日圓
Hello ladies and gentlemen,

so I used to do more chart about CADJPY             but to be honest, CADJPY             been going up for a while and I been trying to find out the bear point. I found it. You can see on this chart that there is two kind of scenario.

The first one would be that CADJPY             would pullback to the lower zone that I did draw. There is the 61.8% fibs of the whole trend plus a BAT PATTERN at the same level. It would also re-test the INVERTED Head N Shoulder that you can see on higher timeframe. To be honest, I don't thing this scenario will occur but who am I to predict the market... Let just wait and see what will happen.

Otherwise, my second scenario would be that CADJPY             keep going up until the 200% fibs level (bold dark line) around 97$. On higher timeframe, I didnt draw it but there is a huge BAT PATTERN . The upper supply&demand is actually the PRZ area for the BAT PATTERN . This second scenario is more the one that I am anticipating. AB=CD + ABCD PATTERN + BAT PATTERN . Very strong area.

Thank you,
I will update this chart later on.

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