CADJPY Follow money flow corrective move on the 4hr expected
Updated
We got a nice spf on the daily with a lot of sellers stepping in. 4hr wise we are still in buyers territory money flow wise. so I expect we get a corrective move at least. we have some contradicting signals. we can get bullish again but I don't expect we can take out a W supply in one take from here without a recharge or refuelling in a propper demand area down the line. Im waiting to reenter a short position. when I see upward momentum is dying out and we hit confluence and congestion areas.
I did notice we got above a nice S/R on the weekly so lets see if price can stay above this. ideally like I mentioned above we get a bigger retrace before we go up again.
I did notice we got above a nice S/R on the weekly so lets see if price can stay above this. ideally like I mentioned above we get a bigger retrace before we go up again.
Note
should have kept my short anyways we are aproaching untapped demand on the 4hr. lets see for a reaction here Trade closed: stop reached
price did not do a corrective move.and proceeded to go down.
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