CADJPY Possible Harmonic Move?
I Haven't traded this pair but need to practise my Tekkers so thought id give this pair a go, from top down Monthly, Weekly, Daily levels and see what I could see and practise my strategy
First thing that stood out was we have tested the Monthly level at 88.882 which seems to have been a strong area of resistance in the past.
I then see we have a 2618, it went more to the 786 level but still a strong sign that we could see a trend continuation to some lower levels, so where do I think based on what I can see and whats happened?
Looking at a fib inversion and extension we have a couple of 1.27 levels line up, also looking a the most recent impulse leg up on the daily/weekly we have the 786 level come in as well, look left and this does fall in line with some previous structure as well
This move down would also be a equal measured move to the last impulse leg down.
will see how this plays out, always good to exercise that idea muscle
First thing that stood out was we have tested the Monthly level at 88.882 which seems to have been a strong area of resistance in the past.
I then see we have a 2618, it went more to the 786 level but still a strong sign that we could see a trend continuation to some lower levels, so where do I think based on what I can see and whats happened?
Looking at a fib inversion and extension we have a couple of 1.27 levels line up, also looking a the most recent impulse leg up on the daily/weekly we have the 786 level come in as well, look left and this does fall in line with some previous structure as well
This move down would also be a equal measured move to the last impulse leg down.
will see how this plays out, always good to exercise that idea muscle
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