CADJPY MULTIPLE SHORT PRICE ACTION INDICATIONS
1. Reassessment of this currency shows that short pressure is still strong.
2. Price is testing break of 4hr bear flag.
3. Rejection of resistance structure
4. Breakout of 4hr bear flag showing continued downward momentum
5. Price action is breaking out of the weekly bear flag as well.(Weekly bar has not closed out of weekly bear flag)
*High confluence of indication for a short.
2. Price is testing break of 4hr bear flag.
3. Rejection of resistance structure
4. Breakout of 4hr bear flag showing continued downward momentum
5. Price action is breaking out of the weekly bear flag as well.(Weekly bar has not closed out of weekly bear flag)
*High confluence of indication for a short.
Note
Breakdown is happening. Wait for any pullback to add more position.Note
Very bearish price action. Hold short.
Trade closed: stop reached
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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.