CADJPY 30min Analysis January 28th, 2021
Price is in a strong downtrend and is respecting the 30min 200MA as resistance but also respecting our demand zone of 81.150.
Trade Scenario 1: Bearish - For us to go short we want to see price reject off the 30min 200MA once again. We will enter short on strong bearish setups around 81.450.
Trade Scenario 2: Bullish - For us to go long we need to see price push above the 30min 200MA. We will then wait for a retrace and for 81.450 to flip as support. Enter on strong bullish setups.
Trade Scenario 1: Bearish - For us to go short we want to see price reject off the 30min 200MA once again. We will enter short on strong bearish setups around 81.450.
Trade Scenario 2: Bullish - For us to go long we need to see price push above the 30min 200MA. We will then wait for a retrace and for 81.450 to flip as support. Enter on strong bullish setups.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.