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UnknownUnicorn2349278

CADJPY Daily Pitchfork Short

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Dolar Kanada / Yen Jepun (FOREXCOM:CADJPY)  
UnknownUnicorn2349278  
FOREXCOM:CADJPY   Dolar Kanada / Yen Jepun
Pitchforks pitchforkswork rsidivergence learningtrading learning noob
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pitchfork pitchforkswork rsidivergence learningtrading learning noob
CADJPY

I marked the pitchfork from the pivots on the weekly chart from June, September, and October.
snapshot

Confirmed with the Daily RSI and the Daily chart.
snapshot

It's very slight but there appears to be a bearish divergence on the RSI.
snapshot
I've only started dabbling in RSI divergences so I wouldn't consider this a confirmation, but it's worth noting.

After looking at the 30M chart I am confident entering a short position.
snapshot
The Daily RSI is not what I like to see so my stop loss will be tight, probably only risk 0.5-1% with the TP at the median line.
Penafian

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