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DrSwing_Forex

CAD/JPY(1 Hour): High probability sell??

Short
Canadian Dollar / Japanese Yen (OANDA:CADJPY)  
DrSwing_Forex  
OANDA:CADJPY   Canadian Dollar / Japanese Yen
Trend Analysis Trend Lines Candlestick Analysis
8
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trendanalysis trendline candlestick
Hello pip hunters, I would like to share my view on CADJPY with you, enjoy!!

Reward:150 pips🤑
Risk: 18.6 pips❌
Risk/Reward Ratio: 7.73✅

Chart Breakdown:
  • Price intersected the last higher-low of the uptrend signaling a trend change.
  • Price formed a lower-high and lower-low confirming the downtrend.
  • A previous support level has turned into resistance and price formed a bearish engulfing candlestick to confirm sells.
  • I'm anticipating a close below the upward trendline to for extra confirmation of sells all the way down to take profit 2


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DR.Swing_Forex
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