CADJPY poll, what do my followers think about this scenario?
so in general i still think this pair will rise again to mentioned level before seeing any bearish continuation.
one rule on trading is to not anticipate only one scenario just let it play as develops, taking this as a fact, we have or counterback to this analysis, a breakout of the wedge like pattern should be our trigger to jump to bearside.
but at the moment chart show us that actual price is resting in the Daily 200 ema, expecting more upside till the next resistance. furthermore, in that place is when the magic will happen, a double top probably or any bearish reversal pattern may happen, and surely, i wll short it.
this one of the pairs that have the potential of a +500 pips downside rally in the upcoming weeks.
please, let me know what you think,any feedback will be appreciated
one rule on trading is to not anticipate only one scenario just let it play as develops, taking this as a fact, we have or counterback to this analysis, a breakout of the wedge like pattern should be our trigger to jump to bearside.
but at the moment chart show us that actual price is resting in the Daily 200 ema, expecting more upside till the next resistance. furthermore, in that place is when the magic will happen, a double top probably or any bearish reversal pattern may happen, and surely, i wll short it.
this one of the pairs that have the potential of a +500 pips downside rally in the upcoming weeks.
please, let me know what you think,any feedback will be appreciated
Trade closed: target reached
get ready for the massive short of this one next month