CADJPY Bearish development at the top, watch for sell

Hi traders:

Also looking at CADJPY for bearish reversal opportunities from multiple time frame point of view.

We can see price has hit a higher time frame double tops, and it start to develop into a rising wedge correctional reversal.

As price gets squeeze into a consolidation on the lower time frame, it start to show signs of further bearish price action.

Now that price has created a lower time frame double tops, and form reversal correction, we can then look for bearish continuation correction to confirm the downside move.

Alternatively, price may move up once more to the top of the rising wedge reversal, and then develop bearish price action for the sell from top.

Thank you

Commentaire:

Price is shaping up for the bearish opportunities

Commentaire: