Good evening guys! Since the TRUMP ELECTION, the market did a drastic movement that actually changed the JPY trend. It use to be downtrend and now with the incredible impulse, is now bullish.
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On this chart we can see a 38.2% FIBS retracement almost done, so we should see some more bullish movement for CADJPY. In the same area, we have a beautiful AB=CD PATTERN to add an extra confirmation to our buy opportunity.
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I will be long on CADJPY at 83.900 and I will add another entry around 83.550. The stoploss is pretty tight so it is a trade that worth the try. Long term view, I see CADJPY go to 97.xxx before a huge crash. But like i always said, dont predict, react.
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Good luck!
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On this chart we can see a 38.2% FIBS retracement almost done, so we should see some more bullish movement for CADJPY. In the same area, we have a beautiful AB=CD PATTERN to add an extra confirmation to our buy opportunity.
--
I will be long on CADJPY at 83.900 and I will add another entry around 83.550. The stoploss is pretty tight so it is a trade that worth the try. Long term view, I see CADJPY go to 97.xxx before a huge crash. But like i always said, dont predict, react.
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Good luck!
