Evening Traders,
Today’s analysis – CADJPY- trading towards Daily S/R where a rejection is probable,
Points to consider,
- Price Action Impulsive
- Daily S/R Resistance
- .382 Fibonacci Objective
- Oscillators Neutral
- Declining Volume
CADJPY’s immediate price action is trading towards key daily resistance, allowing us to have a bearish bias on the market.
The .382 Fibonacci is current objective, breaking this level will increase the probability of Local S/R being tested.
Both Oscillators are currently trading in their neutral, remaining in their bullish control zones is indicative of strength.
The current volume nodes are declining, an influx is highly probable when testing key trade locations.
Overall, in my opinion, CADJPY 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,
“Freedom from blind reactivity begins with self-awareness.”
― Yvan Byeajee,
Today’s analysis – CADJPY- trading towards Daily S/R where a rejection is probable,
Points to consider,
- Price Action Impulsive
- Daily S/R Resistance
- .382 Fibonacci Objective
- Oscillators Neutral
- Declining Volume
CADJPY’s immediate price action is trading towards key daily resistance, allowing us to have a bearish bias on the market.
The .382 Fibonacci is current objective, breaking this level will increase the probability of Local S/R being tested.
Both Oscillators are currently trading in their neutral, remaining in their bullish control zones is indicative of strength.
The current volume nodes are declining, an influx is highly probable when testing key trade locations.
Overall, in my opinion, CADJPY 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,
“Freedom from blind reactivity begins with self-awareness.”
― Yvan Byeajee,
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Pernyataan Penyangkalan
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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 ⚔️
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.