CADJPY, daily tf, sell trend line break
Hello my friends,
Another setup for you today is CADJPY pairs.
It is making the same setup like CHFJPY pairs from previous post
Check it out as well
Price broken below the trend line and now retesting it at an area of confluences.
This is the meeting point of horizonal resistance, EMA and trend line.
It would take strong momentum from buyers to take out this resistance in my opinion.
But looking at this current condition, i think it will be rejected and goes down especially looking the last candle looks like an indecision candle.
Sell CADJPY 79.50
Stop loss 79.95
Take profit 77.70
RR ratio 1 : 4 (4R)
Use only 1-2% risk
Good luck
Disclaimer :I sold CADJPY frm 79.50
Another setup for you today is CADJPY pairs.
It is making the same setup like CHFJPY pairs from previous post
Check it out as well
Price broken below the trend line and now retesting it at an area of confluences.
This is the meeting point of horizonal resistance, EMA and trend line.
It would take strong momentum from buyers to take out this resistance in my opinion.
But looking at this current condition, i think it will be rejected and goes down especially looking the last candle looks like an indecision candle.
Sell CADJPY 79.50
Stop loss 79.95
Take profit 77.70
RR ratio 1 : 4 (4R)
Use only 1-2% risk
Good luck
Disclaimer :I sold CADJPY frm 79.50
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