go short if market fails to break weekly resistance

9 Jul 2017

the cadjpy has reached the weekly resistance zone ofter breaking a shortterm downward daily trend line. so we are going to watch for some bearish price action to go short if market failes to break the resistance. we can aim that market can try to retest the broken trendline. daily chart will be published below

9 Jul 2017

Nota

here see the daily chart . as we are approching the weekly resistance the stoch has a crossover in overbought territory, which tells us about the weeknes of bulls. let's watch next week and if we see bears precence in price action , we can go short