CAD/JPY (1h Chart): 5 Good Reasons To Sell!!!
5 reasons why I'm anticipating a sell:
Price is currently forming a downtrend
There will be a break and re-test setup of the upward trendline
There will be a potential third touch of a downward trendline giving us a sell setup
There is a pivotal support and resistance zone that might provide resistance for price once price breaks below the level
I'm anticipating a bearish reversal candlestick pattern as confirmation of sells upon re-test of the upward trendline, downward trendline and potential resistance( CONFLUENCE)
Risk:25.2 pips
Reward:275.7 pips
Risk vs Reward:11.32
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DR.Swing_Forex
Price is currently forming a downtrend
There will be a break and re-test setup of the upward trendline
There will be a potential third touch of a downward trendline giving us a sell setup
There is a pivotal support and resistance zone that might provide resistance for price once price breaks below the level
I'm anticipating a bearish reversal candlestick pattern as confirmation of sells upon re-test of the upward trendline, downward trendline and potential resistance( CONFLUENCE)
Risk:25.2 pips
Reward:275.7 pips
Risk vs Reward:11.32
Please like if you agree with the idea and feel free to share your comments on this idea.
Please follow for more quality ideas!!!
DR.Swing_Forex