CAD/JPY - Will resistance hold?
Potential 175 pip sell position on this pair.
Analysis:
1. Downtrend structure
2. 80% Fib pullback
3. Market is at resistance
4. Counter trend break on 1H with Doji candlestick formation
5. Target area to complete FIb wave at price 83.970
Currently holding my sell position. Should resistance fail I will exit my trade
Analysis:
1. Downtrend structure
2. 80% Fib pullback
3. Market is at resistance
4. Counter trend break on 1H with Doji candlestick formation
5. Target area to complete FIb wave at price 83.970
Currently holding my sell position. Should resistance fail I will exit my trade
Trade closed: stop reached
Took a loss on this one, lets see if price U-turns for selling opportunities again
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.