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Cadjpysell

Cadjpy risky longsCadjpy has been in a long term uptrend, so we should be preparing for a distribution. Nevertheless, this lends credence to a trend following approach being optimal. A pullback to the previous high of the pair should signify a highly probable formation of a Higher Low to shoot for a continuation long. Incidentally the pullback zone is also the 61.8%/50% fib level of the upmove. The bullish break and retest of the LTF descending trend line and the LTF minor resistance should most probably start a bullish climb to equal highs at least. Pls like and drop quick sub and COMMENT!.
Long
by LexyenHille
Sell CADJPY [4 May 2022]Monthly: Bearish . Even though price has not entered my ideal sell zone between 109.00 and 113.00, there is a divergence on the monthly TF. So, there is a chance that market will start to drop before reaching my ideal sell zone. The current price is also at a sell zone which has been tested previously. But because it has been tested previously, the chances of price breaking through this zone is there. As such, there will be a few levels that I will be selling. Weekly: Bearish . Same reasoning as the above. Daily: Bearish divergence. There is an increase in the buying volume on 28/April/2022, the body of the candle is a strong bullish candle, however, the subsequent candle on 29th was a bearish candle, indicating there is not enough demand to push the price higher. H1: Market made a Break of Structure (BOS) which acts a confirmation for market to drop further. Waiting for price to re-enter the POI zone before we can place a trade. Considering that my bias is a strong bearish , the following price points would be the areas that I would be interested to sell and stack my positions. Entry 1: 102.05 Entry 2: 109.20 SL: 102.40 (I don't use SL because I will stack my positions until it goes to my direction). TP: 97.95
Short
by Syahmul