CADJPY SHORT, I BELIEVE A PULLBACK IS IN ORDER, PAST TWO DAYS MAKING LOWER HIGHS/LOWS.
As we can see cadjpy had strong bullish because he just breakout resistance (before) and now we can see the possibility is he making some pattern reversal we just waiting on the resistance area , and find some confirmation to IN (short) if u guys have any idea u can comment below
This is not a financial advice, take your own responsibility during investment. AS seen there are 2 resistances crossing on this price, plus RSI is almost at overbought level.
In my view, cadjpy will fall after the break below of the trend line and subsequently the key level.
The price moves into a descending channel starting from June 2020. The last touch of the channel resistance line took place in March 80.08. The price fell to support (additional line inside the channel) at 85.53. And again grew to resistance. I expect the price to be: 1 - touches the resistance 89.74. 2 - it will start to fall but will work out the correction in...
The most important lines: Green, Red, and Yellow lines. As it's briefly explained on the chart, all these important lines are acting as resistance and we should expect a downtrend journey for a while, hopefully. Take into account that the red line is the previous high and also 1.27 fib retracement of the wave AB, marked on the chart. The second scenario would...
Price currently retesting the counter trendline( also performing a bearish reset ). expecting price to move to the downside possibly to the areas marked.
Hey traders, here is the analysis for the CADJPY. Let me know if you guys have any questions in the comment section. If you guys like my analysis please hit like. Thanks. NOTE - Please do your own analysis before taking the trade.
Currently in a strong daily resistant zone which have been respected many times. We have a clear RSI divergence on daily chart with a candle stick pattern conforting a sell.
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CADJPY short Breakout on 2h after Daily Doji
Simple Price action This nice 4-day trend line broke and as you can see, CDV seems to confirm this move (zoom in to see it better). I added a Fibonacci extension and you can see that the next possible target is at around 88.130 levels. I am short, entered @ 88.520. A 40-pip trade if it goes the right way! Trade with care and show some ❤❤ Jesse