CADJPY: Selling Opportunities from Resistance
The market looks interesting for shorting. The price reached the resistance zone formed by 81.50 and 82.00 levels. RSI reached the overbought zone, and the line is going to confirm the price reversal. The same goes for MACD histogram.
If the price can stay below the resistance zone, it will be possible to search for exact entry levels in the daily and hourly timeframes. Stop orders must be placed above 82.00 and the local swing high. The main profit target can be at 78.50 support. Risk per trade must be no more than 1-2% from the capital.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
If the price can stay below the resistance zone, it will be possible to search for exact entry levels in the daily and hourly timeframes. Stop orders must be placed above 82.00 and the local swing high. The main profit target can be at 78.50 support. Risk per trade must be no more than 1-2% from the capital.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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