Clean three touch ascending channel, with a complete middle section, along with price reaching the 3rd touch in a smaller ascending channel, with a bearish wick rejection on the trend line just below the double top for this Long and short term sell at the high value area
After a long push to the downside we see that it is getting closer to 1.600 which has been respected and possible third touch to the uptrend. Will look for a rejection looking for buys but if broken will continue to look for sells
I am currently watching CADJPY and am waiting patiently for price to come down for its 3rd bounce on the ascending trend line before looking for longs with massive amount of room to the upside.
I have 3 areas which I will be looking for that confirmation:
First @~81.70 where price meets a weekly key level, the daily 50 EMA and 50% fib retracement. But after the...
Making its 3rd touch to the ascending trendline, rejecting off the 200 ema. A daily closure is preferred first before entering if price closes above the trendline or not. If the trendline breaks the next level of interest is around 6K