CADJPY - Bearish Pressure Soon!

3 Okt

Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

📈CADJPY has been hovering within a big range marked in blue.

Currently, CADJPY is retesting the upper bound of the range.

Moreover, the upper green trendline acts as a non-horizontal resistance.

🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the major high and upper trendline.

📚 As per my trading style:
As #CADJPY is around the red circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich