We are selling CADJPY now because it hits a very strong downtrend line with a good trend strength and momentum.
We are waiting for a breakout on 1H frame with a trend confirmation on daily frame. This is simple but killing entry point specially if the breakout happened with a cooperation of price action!
we buy this now based on some statistical workings and there's an engulf bullish on daily yesterday.
I see sellers are doing their best now and they'll keep doing till it reaches to the bottom. Then the buyers are to revenge back. it might take couple of weeks for the full journey. But it deserves.
basic incomplete harmonic analysis. But I'd go buy
It's a quick win signal- Go Sell
Price action traders will be so happy for this :) the trade setup is very simple and to the point. reward/risk ratio is not bad. expected trade duration is long (may be 3-5 weeks)
Candlesticks rarely lie. So I'd go and buy with a very low stop loss as seen.
There's a bearish engulfing candle on 1Hour + Trend Line on 4H + Resistance Line on Daily chart.
Sell based on harmonic and statistics
Buy based on harmonic and statistics
This is buy for many reasons. The most important factors are both of harmonic, pattern, and solid statistical workings. Enjoy ;)