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VasilyTrader
Jun 8, 2020 1:19 PM

CADJPY: Short Wisely with Inside Bar Pattern Short

Canadian Dollar/Japanese YenFXCM

Description



CADJPY reached a key structure resistance.

dew to high volatility and very sharp bullish rally we need an additional confirmation to short the market.

on 4H the price has formed a classic indecision pattern - inside bar.

6 candles are now trading within the range of the last strong bullish candle.
to short wisely we need a 4H candle close below the underlined range.
then we can short aggressively or on pullback.

if this condition is met, chances will be high that the market will drop at least to 80.875.
if not, I would not trade at all :)

Comments
paulsandhu
Nice! There's a double top on the hourly w/ divergence and a 2618 setup as well. Nice level of structure on the daily that the price action is hovering around currently. Thanks for the analysis man!
VasilyTrader
@paulsandhu, you are welcome!
VasilyTrader
!
pring2751
Amazing analysis !!!
You got the full wave !
You are a very experimented trader, it is cool for you....
5cc6414ae18b452fb0e6bdda71ab33
hit tp 1
so have good ide
VasilyTrader
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