My view of CADJPY currently:
Momentum/Trend change, with the JPY gaining strength --> CADJPY price decline.
Price inefficiencies creating liquidity gaps.
Market structure seems to be in distribution mode.
However, we could also be seeing a bull flag form.
Short term trade for me right now is to ladder in short positions and take advantage of he current momentum change and reconvene once price reaches another significant area of value.
I have multiple views and variables that align with both a bullish and bearish reaction, however I will react rather than try to predict.
NFA.
Momentum/Trend change, with the JPY gaining strength --> CADJPY price decline.
Price inefficiencies creating liquidity gaps.
Market structure seems to be in distribution mode.
However, we could also be seeing a bull flag form.
Short term trade for me right now is to ladder in short positions and take advantage of he current momentum change and reconvene once price reaches another significant area of value.
I have multiple views and variables that align with both a bullish and bearish reaction, however I will react rather than try to predict.
NFA.
Note
4HNote
Note
A strong daily close to the midway of this channel would be ideal.
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Related publications
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.