CADJPY is throwing multiple wicks to the upside on the weekly TF, on the daily there is a clear distribution phase occurring and the market is clearly decelerating. Yesterday's daily candle closed bearish with a wick to fill to the downside , on the 4H TF price recently made a BOS with a 4h impulse followed by a corrective move, the correction is currently testing the 0.618 fibonacci in confluence with 4h supply.
Also notice how on the LTF price appears to have broke above a descending trendline, this is a trap to induce traders into opening longs in order to create liquidity to move into below. Dont get trapped the structure of the market never lies - trendlines can be deceiving unless used correctly.
Also notice how on the LTF price appears to have broke above a descending trendline, this is a trap to induce traders into opening longs in order to create liquidity to move into below. Dont get trapped the structure of the market never lies - trendlines can be deceiving unless used correctly.