Evening Traders,
Today’s analysis – CAPJPY- trading at resistance where a rejection is probable,
Points to consider,
- Price Action Impulsive
- Local S/R Resistance
(.618 Fibonacci and VWAP S/R Confluence)
- Low Volume
- Swing Low Objective
CAPJPY’s immediate price action is trading at a key trade location that has technical confluence with the .618 Fibonacci and the VWAP S/R, allowing for a bearish bias.
The current volume profile is below average, an influx is highly imminent when testing a key trade location.
The immediate objective is the Swing Low, exceeding this level will lead to a trend continuation.
Overall, in my opinion, CAPJPY is a valid short with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work
And remember,
“Confidence is not "I will profit on this trade." Confidence is "I will be fine if I don't profit from this trade.”
― Yvan Byeajee,
Today’s analysis – CAPJPY- trading at resistance where a rejection is probable,
Points to consider,
- Price Action Impulsive
- Local S/R Resistance
(.618 Fibonacci and VWAP S/R Confluence)
- Low Volume
- Swing Low Objective
CAPJPY’s immediate price action is trading at a key trade location that has technical confluence with the .618 Fibonacci and the VWAP S/R, allowing for a bearish bias.
The current volume profile is below average, an influx is highly imminent when testing a key trade location.
The immediate objective is the Swing Low, exceeding this level will lead to a trend continuation.
Overall, in my opinion, CAPJPY is a valid short with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work
And remember,
“Confidence is not "I will profit on this trade." Confidence is "I will be fine if I don't profit from this trade.”
― Yvan Byeajee,
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Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
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Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.