CADJPY 4-hour - Looking for a retest and fall
I think the CADJPY played its hand last week, by appearing to break higher only to fail dismally back inside the wedge it's been forming.
Yesterday's break lower suggests more downside is on the cards.
Ideally, I'd like a retest of the lower trendline. Perhaps up near 84.20 or so, and hint of bearishness to latch onto.
If the bears really are in control, we might not see that. That's OK - if price just hovers around where it is now in some sort of consolidation pattern, we'll find a new reason for entry - the overall downside bias is well intact.
Yesterday's break lower suggests more downside is on the cards.
Ideally, I'd like a retest of the lower trendline. Perhaps up near 84.20 or so, and hint of bearishness to latch onto.
If the bears really are in control, we might not see that. That's OK - if price just hovers around where it is now in some sort of consolidation pattern, we'll find a new reason for entry - the overall downside bias is well intact.
Trade fermée: cible de profit atteinte
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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.