daily bearish engulfing candle, daily level of structure rejection, looking for a pullback
Trendline bounce, H4 timeframe, momentum candle from a level of structure and trendline
Daily candle rejection of daily level of structure, plus daily engulfing candle
CADJPY has most recently broken the ascending trend-line of a higher time-frame ascending channel. After the break of structure, the market has created a bear flag which is ascending in a corrective manner. With that said, the market is at a level of support and previously acted as resistance. On the 1 hour time-frame we can see a double top formation which...