Forex Trading For Beginners Analysis on CAD/JPYOn the higher time frame, price is currently trading on the bearish order block of the H8 and it was refined to the H1 timeframe and there is already a break in market structure to the downside, we then wait for the price to go back to the bearish order block area we then go to the m5 or m15 for entry. I think the price might go down to meet with at least the H4 OB before pushing to the upside.
Cadjpyshort
CADJPY, Bears are Expected..!As salam alaikum
T.A Review:
Bullish Channel
Consolidating since last Month
Another Falling Wedge
Holding Rejection zone i.e 82
Strong chances of pullback.
F.A Review:
Dollar strengthens and Covid can't be ignored.
FED decisions, NFP,ISM and PMI are on the way
as well. Market will be highly manipulative this
month.
CADJPY: The price back to its MAIN TRENDLINE?Hi traders and welcome to my channel, if you enjoy my FREE Technical Analysis 📈 and Trading Tips 📉, support the idea hitting the LIKE 👍 button and don't forget to SUBSCRIBE ✔️ my channel, you won't miss anything !
🟢 Forex Pair :
CAD/JPY
⚪ Technical Analysis :
Since January 2021, the price has been bouncing many times between two S/R level, one at about 82.100 and another one at about 81.000.
On the 28th of January, the price reached also the main trendline, getting an interesting quick rejection, pushing the price up until the resistance zone.
During the last daily session, the price attempted to break through it, failing and showing a sign of weakness and uncertainty.
🔴 Conclusion :
I'm confident to see a possibility to re-test the main trendline, few pinbars on the h4 chart could be a sign of inversion.
I'll be waiting for the next few candles to confirm my analysis and then I'll plan my short position on this trade.
I highly suggest to do not open any position right now!
Stay tuned for Updates and Trading Signals !
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⚠️ Please note the views are not investment advice and should be used only for educational purposes ⚠️
Trade Safe and Responsibly ,
Gianni