CADJPY BUY IDEA
we are in an uptrend and basing on structure
we happen to have tested the previously formed demand
to get the price to the upside
we also had structural break to the upside on the 30-15
minute time frame giving us a confirmation of investor open interest
we are expecting a reduction in price to
attract more buyers to push price
further to the upside
We have a "strong" resistance that give a novice trader confirmation to
take short positions hence giving us sell side liquidity which will have to be
taken out to facilitate a huge push of price to the upside
not forgetting that we are in a consolidative stage (Re-accumulation phase )
hence giving us further confirm of price possibly pushing further to the upside
we happen to have tested the previously formed demand
to get the price to the upside
we also had structural break to the upside on the 30-15
minute time frame giving us a confirmation of investor open interest
we are expecting a reduction in price to
attract more buyers to push price
further to the upside
We have a "strong" resistance that give a novice trader confirmation to
take short positions hence giving us sell side liquidity which will have to be
taken out to facilitate a huge push of price to the upside
not forgetting that we are in a consolidative stage (Re-accumulation phase )
hence giving us further confirm of price possibly pushing further to the upside
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.