CADJPY Possible Harmonic Move? I Haven't traded this pair but need to practise my Tekkers so thought id give this pair a go, from top down Monthly, Weekly, Daily levels and see what I could see and practise my strategy
First thing that stood out was we have tested the Monthly level at 88.882 which seems to have been a strong area of resistance in the past.
I then see we have a 2618, it went more to the 786 level but still a strong sign that we could see a trend continuation to some lower levels, so where do I think based on what I can see and whats happened?
Looking at a fib inversion and extension we have a couple of 1.27 levels line up, also looking a the most recent impulse leg up on the daily/weekly we have the 786 level come in as well, look left and this does fall in line with some previous structure as well
This move down would also be a equal measured move to the last impulse leg down.
will see how this plays out, always good to exercise that idea muscle
