Could CADJPY Sellers beat buyers?
Updated
Price action from Friday session shows a bearish pin bar candle at a resistance.
Guess what?
The price action signal has not been confirmed by volume. So why take the trade?
On 1hr time frame, you will notice a supposed double top price action pattern at resistance but this pattern is confirmed only when there is a break of the neck line.
I'll be looking for a 1hr close at the neck line before considering joining the sellers.
Guess what?
The price action signal has not been confirmed by volume. So why take the trade?
On 1hr time frame, you will notice a supposed double top price action pattern at resistance but this pattern is confirmed only when there is a break of the neck line.
I'll be looking for a 1hr close at the neck line before considering joining the sellers.
Trade closed: target reached
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.