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Lingrid
Oct 21, 2020 7:51 AM

CADJPY on STRONG RESISTANCE line Β Short

Canadian Dollar/Japanese YenFXCM

Description

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Throughout the month, the price showed steady growth and, as a result, after a rollback and correction, it came to a strong rejection line.
My guess is that the price will not be able to break this line and will fall back to the support line.

This line is really very strong, it has been holding back the price growth since 2015.



Over the past month, the price has put all its strength into growth and I assume that it will not have enough strength to break through this line. Therefore, it will fall back to the support line.

Traders, if you liked this idea or have your opinion on it, write in the comments. I will be gladπŸ‘©β€πŸ’»
Comments
TradingAlchemist
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you are my favorite trader. lingrid
Lingrid
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@TradingAlchemist, I am very inspired by your words)
thanks)
DeGRAM
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If you make the zone longer, you can see that the price can get stuck there.

Thanks.
Lingrid
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@DeGRAM, thank you for sharing your opinion)
I think the zone will not prevent the price from going down)
HenrikBoyander
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Hi! Great :-) price at 79.98 would you still get in at this level or wait for a move up first?
Lingrid
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@HenrikBoyander, what do you think is best?)
HenrikBoyander
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@Lingrid, did go up a bit and then down again so I say yes...
alipoorvahid76
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so good thank u
Lingrid
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@alipoorvahid76, you`re welcome)
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