Vladimir Ribakov analyzes CAD/JPY and GBP/CAD for the week of July 24, 2022. CAD/JPY shows bearish divergences and lower highs, favoring short trades on rallies. GBP/CAD is consolidating near 1.55 with bullish signals, suggesting buy-the-dip opportunities.
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Hello traders, how are you? Vladimir here from Traders Academy Club, uh, and welcome to my weekly forex forecast and preparation for the trading week. Now we are preparing for the trading week starting on 24th of July 2022. I hope you enjoy your lovely summer and you have some great time and great memories. If you are new to our channel, welcome to our amazing community. Please subscribe with the subscribe button below this video, uh, and also I invite you to our trading family Traders Academy Club where you will enjoy from, as you can see on this very image, free full VIP price action course, real-time trading ideas, real-time trading education, supportive trading community And the full access to the best trading club online. Join our family with the link below this video in the description. So for this video, I have the pound CAD and CAD yen, and I would like to share all the technical things with you. So let's not waste time and go directly to the chart. We will start with CAD yen, and right before Uh, the analysis and the techniques behind it. Uh, 2 amazing indicators. Yep, 2 great indicators you can download for free. These are the indicators you can see on this chart. My KTL indicator, Key Trading Levels indicator, based on volume profile, presenting multi-timeframe key trading levels in play. You have full control over the timeframes you want to be presented. Everything is here for you, and it's multi-timeframe automatic scan and my amazing virtual trading pen. So go download this indicator below this video in the description. Follow the links: KTL indicators, virtual trading pen indicator. Follow the links, install, and enjoy them. You will love them. They are amazing indicators. So, um, the first one is the CAD yen. And here is what I see on this, um, on this pair and the opportunity. So starting with the monthly chart, just to mark the levels, look where we are at the moment. 2 key swing highs from the monthly chart are being retested. This swing high, this swing high, and from the previous uptrend, this swing high. Look what happens here with the 2 months in a row Spikes. We've got a spike, a rally above this level, and then instant pullback. Taking that to the next level on the weekly chart, look at the slowdown. While we see higher highs on the chart, we start to see some slowdown here on the MACD histogram, lower highs. Also, RSI starts to slow down right from the peak above the level of 80. This is usually a good sign that some slowdown is about to take place before or very likely further rally will take place later on. But on the short term, on a daily chart, as we can see here, we got a false breakout and the market was making several waves upside. And this ends here with a failed attempt to make higher high and instant pullback. Okay, so look what happens here. The market is trying to break above that Right, turns down here with this bearish engulfing. All, all the 3 of the 3, uh, candles here create evening star. Look at these bearish divergence while the chart creating higher highs. We can see clearly divergence on the moving averages of the MACD, the histogram on the— of the MACD flipping from positive to negative to positive, and right on the RSI. And right now the market is trying to go below this weekly level. As you can see, once again I would like to remind you, download these 2 amazing indicators, the Key Trading Level indicators, uh, and the Virtual Trading Pen, uh, and you can download them easily with the links below this video in the description. KTL indicator, Virtual Trading Pen indicators, download and install and you will enjoy them, you will love them. As for now, they are formatted either for And very likely they will be available also for Interrefi. So this is the the way I see that from the higher time frames and on the lower time frames for the first time. Look what happens after this leg. It was creating the higher highs, higher lows sequence, and now for the first time we flipped from higher lows, higher highs to lower lows, and already some lower highs in play. So the way I see that sell the rallies should be the plan for the coming week and maybe more than that. This is the first one I have in mind. Let me know what do you think about the CAD yen and how do you see this pair. And also, if you find this video helpful and useful, I would like to ask your support. Your support is very much needed and very much appreciated. A little Hit on this like button below this video. A few words in the comment section is a great help to the channel to stay relevant in all this YouTube algorithm, and a great appreciation the work I do for you guys. So thank you very much in advance to all those of you who put the time to support and assist. Thank you, guys. The next one would be the pound CAD. And a lovely opportunity forming here. We are flirting with the level of 155. The price— look what happens in the last couple of weeks, okay? 2 big spikes on the bottom right next to 155. And again, like with the CAD yen, here on the opposite direction. So at the end of the move down, we have lower highs— lower lows, sorry. And higher lows on the indicator of the MACD histogram as well as RSI. Okay, all that is right next to the previous swing low here from the higher time frame. On the lower time frame, the daily chart, we are in a long divergence here. Okay, building up a potential, as you can see here, wedge. Okay, it's getting, um, narrow and narrow and narrow, more narrow. And of course, look at the divergence, long divergence. Okay. Lower lows on the chart, higher lows on the indicator, as well as the MACD moving averages are assigned to play. Histogram of the MACD in play looks like a great combination. 2 spikes in a row holding this pretty much the same level and a bounce above, um, 155. I love this format and I love this, uh, the way the price reacts. Uh, so, um, on the 4-hour chart we can clearly see false breakout, 2 in a row by the way. The first one was here, now the second one comes in play, all that under bullish divergence. For the first time we also start to see higher highs here. This is a key high, break above that should be a good sign that we are building up a correction. So for me, uh, buy the dips should be the plan to follow on the pound CAD. And these are the 2 opportunities I wanted to share with you. For all the rest of the opportunities with a real-time— as we spot them, real-time trading opportunities with full detailed explanation behind all the techniques applied, with a real-time trading education, join our family Traders Academy Club, uh, with the link below this video. And I hope to see you with us, and I hope to help you in your trading journey. Until then, thanks for your time watching this video. I wish you and yours all the best, a successful trading week, and successful, um, um, end of trading in July right before August begins. So thanks for your time once again, and I'll see you soon with more. Bye for now.
