H1 - Bearish trend pattern.
Currently it looks like a pullback is happening.
Until the strong resistance zone holds I expect the price to move lower further after pullbacks.
H1 - Bearish trend pattern.
Currently it looks like a pullback is happening.
Until the two strong resistance zones hold my short term view remains bearish here.
Anchored notes on chart outline key details. If this level holds, there's a good R-multiple trade here.
[ Note that ideas published represent my viewpoints on structural directional movements. I do not post explicit trade parameters (i.e. entry, take profit, stop loss, etc.) as these are set to in reference with my expectancy. Since my win rate and R-multiple...
CADJPY on the 4 hour time frame finds itself and a narrowing triangle failing to push up due to lack of good buying volume. If you take a peek at the daily time frame you also see the flat top here. This doesnt mean perse that CADJPY will stop going up but for now the strength is lacking making a retracement very likely so we go sell CADJPY. After this retracement...
CADJPY on the daily time frame has a nice break out from its resistance and the trading channel. For possible resistance levels we have to go back in time, back to 2015 to be exact. The resistances that you see are based on CADJPY trading ranges from 2015 and the last time that CADJPY traded between 92 and 102. Giving the recent rate hike and the more than decent...
