CADJPY: Breakout Structure, looking for BEARISH CONTINUATION
Hello, everybody and welcome to Cybernetics Trading Lab, today we are going to analyse the CADJPY, translating the market information by using a full technical analysis on different time frames, giving you a personal opinion about the next most likely market movement and helping you to spot and manage market opportunities.
Top Down Technical Analysis:
From march to November 2022, we could see the price clearly moving inside a big rising wedge, however, on a level a price which the probability to reverse was quite high.
Finally the price broke the main structure to the downside and if it will form further bearish price action, will be very interesting to short this market, considering the big room till its next swing at 101.500.
When, where and why would we step into the market?
The price is just dropping at the moment, and we would not jump short in the middle of an impulsive phase.
If during the upcoming days or weeks we will see a potentially bearish continuation, then it will confirm our thesis and we will update this idea with a better entry accuracy!
If you enjoy this trade idea, please support our work with a thumb up and don’t forget to follow our social medias!
Sincerely,
Cybernetics Trading Lab
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose.
Top Down Technical Analysis:
From march to November 2022, we could see the price clearly moving inside a big rising wedge, however, on a level a price which the probability to reverse was quite high.
Finally the price broke the main structure to the downside and if it will form further bearish price action, will be very interesting to short this market, considering the big room till its next swing at 101.500.
When, where and why would we step into the market?
The price is just dropping at the moment, and we would not jump short in the middle of an impulsive phase.
If during the upcoming days or weeks we will see a potentially bearish continuation, then it will confirm our thesis and we will update this idea with a better entry accuracy!
If you enjoy this trade idea, please support our work with a thumb up and don’t forget to follow our social medias!
Sincerely,
Cybernetics Trading Lab
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose.
