Hello fellow trader,
CAD / JPY has a very interesting price action. In addition, we can see the price came back 76.900 ranges and got rejected from previous lower high. Before we place a short position, we must wait for a retest for the price to come back up. Once the price has come back up we can use it as confirmation of wicks rejection place a short opportunity. On the larger note, the daily timeframe creates bullish pennant; we can conclude the price will soon to come back up.
Feel free to give your feedback!
lets have a profitable week!
CAD / JPY has a very interesting price action. In addition, we can see the price came back 76.900 ranges and got rejected from previous lower high. Before we place a short position, we must wait for a retest for the price to come back up. Once the price has come back up we can use it as confirmation of wicks rejection place a short opportunity. On the larger note, the daily timeframe creates bullish pennant; we can conclude the price will soon to come back up.
Feel free to give your feedback!
lets have a profitable week!