The chart for the Canadian /Japanese Yen (CAD/JPY) on FXCM uses the following tools and patterns:
*Change of character* (CHOCH) This breaks bearish structure → signals potential shift to bullish.
*Break of structure*: (BOS) *Break below a previous low.
*Down Trend Line* (DTL) : *A diagonal resistance line connecting lower highs, indicating a continuous bearish trend *Order Block* Later, price may retrace into that candle’s zone, then continue down
Additional context:
The chart uses a 2hour-period timeframe.
*Fear value gap* (FVG): In a downtrend, price may retrace up into an FVG before continuing lower (good sell opportunity).
*Resistance*: *Areas where price has turned down in the past. These tools collectively aim to analyze momentum, trend direction, and critical price levels for trading decisions.
*Change of character* (CHOCH) This breaks bearish structure → signals potential shift to bullish.
*Break of structure*: (BOS) *Break below a previous low.
*Down Trend Line* (DTL) : *A diagonal resistance line connecting lower highs, indicating a continuous bearish trend *Order Block* Later, price may retrace into that candle’s zone, then continue down
Additional context:
The chart uses a 2hour-period timeframe.
*Fear value gap* (FVG): In a downtrend, price may retrace up into an FVG before continuing lower (good sell opportunity).
*Resistance*: *Areas where price has turned down in the past. These tools collectively aim to analyze momentum, trend direction, and critical price levels for trading decisions.
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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.
Join Telegram Channel Free t.me/+lvC6DGTZAqk3NTI8 "Explore daily insights: 4/5 signals meticulously analyzed, ensuring an impressive 99% accuracy in forex & crypto trades t.me/+XHUwVU1EKek0Nzlk
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.