CADJPY SHORT - SUPPLY, ELLIOTT WAVE, RSI, PITCHFORK
BACKGROUND
We are at a supply order block which caused a break of structure. There is plenty of Asia-low liquidity waiting for us below. All the imbalances have been filled as well.
So, the immediate bias is to look for a drop in price.
SUPPORTING EVIDENCE
1. We can see a 5 wave Elliott wave forming. Very frequently, wave 1 is equal to wave 5.
2. We can see a clear simple RSI bearish divergence.
We are at a supply order block which caused a break of structure. There is plenty of Asia-low liquidity waiting for us below. All the imbalances have been filled as well.
So, the immediate bias is to look for a drop in price.
SUPPORTING EVIDENCE
1. We can see a 5 wave Elliott wave forming. Very frequently, wave 1 is equal to wave 5.
2. We can see a clear simple RSI bearish divergence.
Note
Target the median line of the pitchforkNote
Wyckoff distribution
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.