CADJPY Mixed

26 thg 4, 2020

Monrthly and Weekly Charts show price tanking down towards 76.065 area of monthly SR which is bearish. However as price gets towards this area the candles are gradually getting smaller and they are producing long wicks wick could be a sign of reversal so We'll certainly be on the lookout for that. On the daily Charts Price has also tanked down to the monthly area but has started an uptrend overall but currently is pulling back to test the daily trendline and monthly SR area. For situations like this it is best to let price confirm the trend before entry. To enter a buy, we need a break of the daily downtrendline with a rejection of the monthly SR area. To enter a sell, we need a break of the daily upwardtrend line and a break and retest of the monthly SR lvl. Any trades taken before that will be taken with consolidation/ channel paramenters as no bias has been set

26 thg 4, 2020

Ghi chú

On the 4hr Chart price has dropped back below the 50 ema but made a higher high and higher low than prev small swing. Price also appears to be approaching the 0.5 fib levl meaning this could be a pullback and price continue its uptrend. Would be a Dynamic Trend Combo