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Rick_69ro

USD/CAD DAILY - Prepare for SHORT position

Short
Canadian Dollar / Japanese Yen (FX:CADJPY)  
Rick_69ro Updated   
FX:CADJPY   Canadian Dollar / Japanese Yen
Chart Patterns
8
2
chartpattern
Reason: RSI divergence is shaping, it is not ready yet, but watch stochastic for a clear sign to go short. Target should be down to the red line app 88.800 - 88.300 which is a point of touching the 4h trendline. Then bank your profits.
Comment:
Sorry, target 87.800
Comment:
Sorry for title. It is CAD/JPY pair :) The rest of the comments are valid
Comment:
Hi guys. RSI looking good, price consolidating in tight range so careful, it looks like a final spike to 90.700 is possible (bulllish flag). Going toward 90.200 and retest of 90.400 would encurage our short scenario.
Comment:
Nice spike to 90.700! Man, I'm good;). On 1h chart it formed a clear pin bar. If it holds it could be the first sign of reversal.We need a red candle as confirmation.
Comment:
Now we have on 1h chart a hanging man near the shooting star. Both are bearish patterns. This pair should collapse soon...
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