Since mid-march, CadJpy has had an impressive rally, with the pair gaining 1500 pips in only 3 months.
A steep 500 pips correction followed the top consolidation and after this, the pair resumed its up move.
However, looking at recent price action we can see that the pair is struggling and the last 4 attempts to reconquer 108 failed.
At this moment the possibility of a lower high is probable and a new leg down could follow.
Confirmation for this comes with a break under recent trend line support but aggressive traders could look to sell rallies against the recent top. In such an instance, a 1:4 r:r could be achieved.
A steep 500 pips correction followed the top consolidation and after this, the pair resumed its up move.
However, looking at recent price action we can see that the pair is struggling and the last 4 attempts to reconquer 108 failed.
At this moment the possibility of a lower high is probable and a new leg down could follow.
Confirmation for this comes with a break under recent trend line support but aggressive traders could look to sell rallies against the recent top. In such an instance, a 1:4 r:r could be achieved.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Publicações relacionadas
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Publicações relacionadas
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
