Money Making Opportunities-CADJPY 5-9 Aug

📍 CADJPY Analysis
Overview
• Weekly Chart: Support retested, maintaining an overall bullish trend.
• Daily Chart: No significant changes or setups.
Analysis
• 4-Hour Chart:
o ABCD Pattern: Look for a 3-bar reversal or Magic Candle confirmation around this zone for a potential setup.
o Candlestick Reading: Even with a slight decline, if you understand candlestick patterns, waiting for a Magic Candle confirmation could still be viable.
• 1-Hour Chart:
o Shorting Opportunity: Immediate resistance at 107.22 could be a point to consider for shorting.
Execution
1. Buying Opportunities:
o 4-Hour Chart: Monitor for ABCD pattern completion and Magic Candle confirmation.
2. Shorting Opportunities:
o 1-Hour Chart: Watch resistance at 107.22 for a potential short entry.
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