SELL TO BUY IDEA
DISCLAIMER THE BELOW IS JUST MY VIEW AND THOUGH, TRADE AT YOUR OWN RISK
Before i give my view i would like to clarify something first the CADJPY is quite bullish with a Pearson square of +0.8 but it took out a significant high which i would like to clarify as an ERL, hence i am expecting a pullback of the current impulse leg, the price is currently trading at premium hence sellers may dominate until buyers kick in at discount, currently i have two poi's that i believe prices may react at to resume the uptrend.
1. The imbalance at the equilibrium of the range
2. The demand zone below the imbalance
That is my approach and hence my idea sell to buy
Before i give my view i would like to clarify something first the CADJPY is quite bullish with a Pearson square of +0.8 but it took out a significant high which i would like to clarify as an ERL, hence i am expecting a pullback of the current impulse leg, the price is currently trading at premium hence sellers may dominate until buyers kick in at discount, currently i have two poi's that i believe prices may react at to resume the uptrend.
1. The imbalance at the equilibrium of the range
2. The demand zone below the imbalance
That is my approach and hence my idea sell to buy
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