CADJPY Daily Pitchfork Short

CADJPY

I marked the pitchfork from the pivots on the weekly chart from June, September, and October.


Confirmed with the Daily RSI and the Daily chart.


It's very slight but there appears to be a bearish divergence on the RSI.

I've only started dabbling in RSI divergences so I wouldn't consider this a confirmation, but it's worth noting.

After looking at the 30M chart I am confident entering a short position.

The Daily RSI is not what I like to see so my stop loss will be tight, probably only risk 0.5-1% with the TP at the median line.