Cadjpysignal
CADJPY : Short Trade , 1hHello traders, we want to check the CADJPY chart. The price is moving in a downward trend and has pulled back to the specified key level. We expect this breakout level to act as a support level and cause the price to fall further. We will have a price drop of 106,900 and 106,300. Good luck.
CADJPY ____ INCOMING BEARISH MOVEHello Guys,
As I had mentioned in my previous post on USDCAD (inserted below), CADJPY which is correlated to USDCAD is also at a very important supply region (weekly order block).
My speculation is that CADJPY may continue some more inducements and manipulation on its way to the top before it begins selling.
If you look left, you will notice the buy-side liquidity (equal highs) that the price may just spike above before selling or creating another equal high.
You should put this pair under your radar as it has more potential to deliver on the short.
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USDCAD ANALYSIS
Cheers,
Jabari
DeGRAM | CADJPY double top at the resistance levelCADJPY is decelerating at resistance level on the 4H chart. It created a double top.
The market shows a divergence at the resistance level, meaning a pullback might happen.
Kill zone: resistance and an equal-measured move.
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CADJPY ____ INCOMING BEARISH MOVEHello Traders,
CADJPY traded into a strong weekly order block last week but didn't sell as expected. However, it created both buy-side and sell-side liquidity. My speculation is that It hunts the buy-side liquidity first, then go for the sell-side liquidity.
This simply means that the price would run deeper into the weekly order block to gather momentum for the bearish move.
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Cheers,
Jabari
CADJPY ____ LIQUIDITY SWEEP INCOMINGHello Traders,
Have approached a monthly supply zone (marked with red). Price is meant to reach this level. Due to the fact that this is obvious to everyone, price manipulation will have to happen to ensure people are liquidated before the sell-off.
One way the market does this price manipulation is to induce people and form a liquidity pool that it will sweep before the bearish expansion.
As marked on my chart, you will notice that there is buy-side liquidity just below the monthly supply zone. Once the price sweeps this liquidity, I would have liquidated enough people before the selling begins.
I will advise you to wait and see how the price reacts to this zone before you decide to look for a bearish setup to trade.
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Cheers,
David