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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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 ⚔️
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.