CADJPY Short Update

Hi traders:

Quick update on CADJPY short from earlier this week.

Price did manage to go lower from my previous analysis but quickly moved up to complete a lower time frame descending channel to move back up.

However, price then manages to form a reversal flag structure pattern, before sharp impulse move down.

Last bit of price action formed a mini continuation pattern before more bearish momentum comes in.

Zoom out on the higher time frame, structurely is still valid for a mid/long term sell down after breaking out of the larger structure for confirmation.

Expect more smaller corrections to bring the price down.

Thank you

تعليق: