CADJPY Testing Resistance, Prepare For A Drop
Sell Below 85.25. Stop loss at 86.06. Take profit at 83.51.
Reason for the trading strategy (technically):
CADJPY is approaching its major resistance at 85.25 (100% Fibonacci extension, 61.8% Fibonacci extension, 61.8% Fibonacci retracement, 50% Fibonacci retracement, horizontal swing high resistance) where we expect to see a reversal, causing price to push down to its support at 83.51 (38.2% Fibonacci retracement, 50% Fibonacci retracement, Horizontal pullback support).
Stochastic (89, 5, 3) is approaching its resistance at 97% where we expect to see a reversal. We have also identified a bearish divergence with price which contributes to our bearish bias.
Reason for the trading strategy (technically):
CADJPY is approaching its major resistance at 85.25 (100% Fibonacci extension, 61.8% Fibonacci extension, 61.8% Fibonacci retracement, 50% Fibonacci retracement, horizontal swing high resistance) where we expect to see a reversal, causing price to push down to its support at 83.51 (38.2% Fibonacci retracement, 50% Fibonacci retracement, Horizontal pullback support).
Stochastic (89, 5, 3) is approaching its resistance at 97% where we expect to see a reversal. We have also identified a bearish divergence with price which contributes to our bearish bias.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.