Hello traders around the world!
Lets talk about CADJPY.
First of all, on the higher time frame (Weekly) we can clearly see that the price reached a mass psychology at 106.580.
Currently, the price is ranging between 106.000 & 110.000.
This is clearly an area for short positions. (First confirmation)
On the daily chart, we have an ascending channel signaling a downside gravity (Second confirmation).
Where are the areas to take short positions?
The areas for shorts on CADJPY are: (Third confirmation)
1) The high of the middle section @ 110.528 forming a double top &/OR 1H reversal pattern as a combination.
2) The high key area (on the upper TL) @ 112.200
We must be waiting for reversals in these two areas and execute properly without having the fear of missing out.
Patience is key.
#THEPRIMES
Lets talk about CADJPY.
First of all, on the higher time frame (Weekly) we can clearly see that the price reached a mass psychology at 106.580.
Currently, the price is ranging between 106.000 & 110.000.
This is clearly an area for short positions. (First confirmation)
On the daily chart, we have an ascending channel signaling a downside gravity (Second confirmation).
Where are the areas to take short positions?
The areas for shorts on CADJPY are: (Third confirmation)
1) The high of the middle section @ 110.528 forming a double top &/OR 1H reversal pattern as a combination.
2) The high key area (on the upper TL) @ 112.200
We must be waiting for reversals in these two areas and execute properly without having the fear of missing out.
Patience is key.
#THEPRIMES