CADJPY 2023 YEARLY STRUCTURE OHLC (SELL SETUP)🔻🔻🔻🔻
CADJPY 2023
YEARLY STRUCTURE
OHLC (SELL SETUP)
🔻🔻🔻🔻
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CADJPY CADJPY 2023 yearly structure shows the Open, High, Low, and Close (OHLC) prices. The current high opening suggests a compelling sell setup for CADJPY throughout 2023. Notably, there is a bearish divergence in the Monthly timeframe, commencing from November 2022 and extending to the peak of June 2023. Presently, price is being rejected at the resistance level of 109.506 and remains below the sell line at 106.949.
Although the current monthly candle exhibits some bullish sentiments, it still appears bearish, prompting us to exercise patience. It is advisable to await confirmation through a TDI (Traders Dynamic Index) cross in the monthly timeframe, which would indicate the presence of sellers in the market.
The first take profit level is set at 100.946. The second take profit target is the yearly open of 2023, located at 93.389. If the price manages to close below the yearly open, the third take profit level would be last year's open, which stands at 91.144.
This trade presents a high probability for sells throughout the year, contingent upon the occurrence of a TDI cross. Caution and careful monitoring are recommended to make informed decisions.
It is crucial to exercise patience and await the TDI cross before taking any action.
Trade with Caution. Wait for valid entries.
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P A T I E N C E + D I S C I P L I N E
YEARLY STRUCTURE
OHLC (SELL SETUP)
🔻🔻🔻🔻
Please support this idea with LIKE, FOLLOW & SHARE if you find it useful.
CADJPY CADJPY 2023 yearly structure shows the Open, High, Low, and Close (OHLC) prices. The current high opening suggests a compelling sell setup for CADJPY throughout 2023. Notably, there is a bearish divergence in the Monthly timeframe, commencing from November 2022 and extending to the peak of June 2023. Presently, price is being rejected at the resistance level of 109.506 and remains below the sell line at 106.949.Although the current monthly candle exhibits some bullish sentiments, it still appears bearish, prompting us to exercise patience. It is advisable to await confirmation through a TDI (Traders Dynamic Index) cross in the monthly timeframe, which would indicate the presence of sellers in the market.
The first take profit level is set at 100.946. The second take profit target is the yearly open of 2023, located at 93.389. If the price manages to close below the yearly open, the third take profit level would be last year's open, which stands at 91.144.
This trade presents a high probability for sells throughout the year, contingent upon the occurrence of a TDI cross. Caution and careful monitoring are recommended to make informed decisions.
It is crucial to exercise patience and await the TDI cross before taking any action.
Trade with Caution. Wait for valid entries.
Please support this idea with LIKE, FOLLOW & SHARE if you find it useful.
P A T I E N C E + D I S C I P L I N E
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