CADJPY - High Probability Sell Pair
Based on my analysis, CADJPY appears to be a high probability sell pair.
The recent formation of a double top pattern, combined with two lower lows breaking below a significant support level, indicates that the pair is likely to continue its downward trend.
Additionally, the rally on Friday appears to have been driven by market manipulation rather than fundamental factors, as evidenced by the pair's failure to break through a resistance level [Double Tops].
To execute this idea, consider selling at
Sell1: 100.20 and
Sell2: 100.10, with a stop loss set at 100.35 to limit potential losses.
The potential target for profit-taking is 99.45.
Disclaimer: This is not financial advice.
The recent formation of a double top pattern, combined with two lower lows breaking below a significant support level, indicates that the pair is likely to continue its downward trend.
Additionally, the rally on Friday appears to have been driven by market manipulation rather than fundamental factors, as evidenced by the pair's failure to break through a resistance level [Double Tops].
To execute this idea, consider selling at
Sell1: 100.20 and
Sell2: 100.10, with a stop loss set at 100.35 to limit potential losses.
The potential target for profit-taking is 99.45.
Disclaimer: This is not financial advice.
Disclaimer
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