Short opportunity on CADJPY
Good day traders.
A clear horizontal channel on this pair, with price currently at the resistance zone. After Friday's bearish candle, it has completed an Evening Star pattern. For those not familiar with the Evening Star pattern, it is bearish candlestick pattern which usually appears when the trend is about to reverse. I will be waiting for a breakout of the trendline and then I will look for a corrective structure on lower timeframes, I will only sell if price makes a corrective structure and breakout. I will post my trade setup if that happens, well, before it happens.
A clear horizontal channel on this pair, with price currently at the resistance zone. After Friday's bearish candle, it has completed an Evening Star pattern. For those not familiar with the Evening Star pattern, it is bearish candlestick pattern which usually appears when the trend is about to reverse. I will be waiting for a breakout of the trendline and then I will look for a corrective structure on lower timeframes, I will only sell if price makes a corrective structure and breakout. I will post my trade setup if that happens, well, before it happens.
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