Since mid-march, CadJpy has had an impressive rally, with the pair gaining 1500 pips in only 3 months.
A steep 500 pips correction followed the top consolidation and after this, the pair resumed its up move.
However, looking at recent price action we can see that the pair is struggling and the last 4 attempts to reconquer 108 failed.
At this moment the possibility of a lower high is probable and a new leg down could follow.
Confirmation for this comes with a break under recent trend line support but aggressive traders could look to sell rallies against the recent top. In such an instance, a 1:4 r:r could be achieved.
A steep 500 pips correction followed the top consolidation and after this, the pair resumed its up move.
However, looking at recent price action we can see that the pair is struggling and the last 4 attempts to reconquer 108 failed.
At this moment the possibility of a lower high is probable and a new leg down could follow.
Confirmation for this comes with a break under recent trend line support but aggressive traders could look to sell rallies against the recent top. In such an instance, a 1:4 r:r could be achieved.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Pubblicazioni correlate
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.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Pubblicazioni correlate
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.