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CAD/JPY retracement should be held at trendline

AdamFx42 Publié 12 oct comme Analyse sur CAD/JPY, Cible: 95.7100, Date: 1 de décembre, 12:00 GMT  dans #Technical analysis #CAD/JPY #Weekly Channel #Fibonacci Retracement #Trendline Support
Cad/Jpy is retracing after almost hitting 100
The natural retracement level before another move up would be 61.8% fibonacci retracement
and there is a good chance this will hold the price from moving down further
because the pair has fallen back within a weekly bullish channel
and the lower border of this channel is now trendline support again, and lies around the same level
as the fibonacci retracement of 61.8% - this combination should act as a strong support for the pair
…
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AdamFx42 19 oct

Pair has fallen sharply, and pierced lower border of weekly trendline and retraced to almost 100% fibonacci retracement of the last move up - a big bounce has brought the pair back in weekly channel though,
and price should remain here, and follow its upmove now

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AdamFx42 30 oct

price has moved back up sharply and is well above target now
need retracement down again

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Bullish Engulfing candle pattern fails in CAD/JPY

AdamFx42 Publié 17 aou comme Analyse sur CAD/JPY, Cible: 92.4400, Date: 1 de octobre, 12:00 GMT  dans #Technical analysis #Fibonacci Expansion #CAD/JPY #Bullish Engulfing Candle Pattern #Bearish Pressure
On the weekly chart of Cad/Jpy we can clearly see a failure of a bullish engulfing candle;
this means that price action will probably not lead this pair any higher
and we need to focus our attention to the downside for targets:
Cad/Jpy weekly chart
If we now go to the daily chart, we get a clearer picture of what is happening:
we can see that the failure of forming the bullish engulfing candle pattern
is because of downward pressure on the pair during last week,
this price action should lead to …
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AdamFx42 3 sep

Price did move higher - it is a long way down now, I don't see my prediction holding up,
the bullish engulfing candle did work even if it was not completed

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