Monthly: Bearish . Even though price has not entered my ideal sell zone between 109.00 and 113.00, there is a divergence on the monthly TF. So, there is a chance that market will start to drop before reaching my ideal sell zone. The current price is also at a sell zone which has been tested previously. But because it has been tested previously, the chances of...
The Canadian dollar bounced on Wednesday at the ¥99 level, an area that should capture a lot of attention because it has historically been very important. Furthermore, we had initially seen a major push lower when we pierced that level for the first time, so now that we have pulled back to retest this area, a bit of buying pressure would make quite a bit of sense....
CAD-JPY broke a horizontal resistance
And you did it in a powerful way
But backtracking and correction is inevitable
And we can see that the price has almost arrived
Increased resistance to a narrow wedge at 95.00
So I think after the retest
We will see a drop to 91.7
Hi TRADERS this is my trade set up for the CAD/JPY
CAD/JPY Has broke the structure so I am Looking for a pull back in to the order block zone and then to continue up to TP area
This is my analysis only please trade with caution and risk management in place
clean crisp charts I hope it helps if you have any questions please private message me
good luck for this...
CadJPY had been in weekly Range and now the Range i Broken . According to Pattern Trading it has Made H&S Pattern. So i Expect price to Retrace back to EQ Level or Deep Discount Price for more Sell Downwards!