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Cadjpytrade

CADJPY: Weak Momentum, Short Term TradeHello, everybody, and welcome to my TradingView’s profile, my name is Gianni and today I’m going to analyse the asset , translating the market information by using a full technical analysis on different time frames, giving you a personal opinion about the next most likely market movement and helping you to spot and manage market opportunities. My ideas are for those who are interested in improving their financial education and for those who are looking for new trading opportunities, according with their own strategies. Daily timeframe: 4 hours timeframe: 

Long term bullish perspective, the market is currently in corrective phase, after a recent strong bullish impulsive move. However, in lower timeframe, the market is performing an interesting situation. The last intraday impulsive move, started consolidating inside a big channel, clue of losing of momentum.
We actually got a confirmation of that, considering a shift of value area after a strong breakout to the downside. Most of you would recognise this pattern as a bearish flag or wedge. When, where and why would I step into the market? Considering the good possibility of bearish momentum, I will be looking for a short opportunity. In order to achieve this trade, few confirmations are essential, a breakout to the downside of the current fair value area and a small consolidation just below the value area, to confirm supply enough to protect my stop loss. Potentially, my entry point would be just below the breakout of the last fair value area and the stop loss above a possible swing high. In the scenario of breakout to the upside, no action will be taken and the trade idea will be invalidated. If you enjoy this trade idea, please support my work with a thumb up and don’t forget to follow my profile for more detailed market analyses! Trade safe and responsibly, Gianni DISCLAIMER Please note the views are not investment advice and should be used only for educational purpose
Short
by UnknownUnicorn18552923
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