CADJPY - BEARISH MOMENTUM > SELL!
Hey Traders and Investors, I would like to share my perspective and current viewpoint on the price of CADJPY and what I expect moving forward. This information aims to help us make calculated decisions and take advantage of the opportunity presented. If you agree with this idea, hit the boost button and follow me for more ideas - I appreciate the support frfr 💚
- To start off, I've noticed and studied the fact that the price of CADJPY has been influenced by multiple resistance levels in the last five days, which caused a -2.53% decrease because of these key factors
1st factor = There was a resistance level from last week that had a total of 4 bullish candle wicks touching it, which significantly impacted the price - leading it to drop 274 pips after the 4th bullish candlewick.
- the price of this previous resistance level was set between $108.438 and $108.268
2nd factor = The gap between the top and the bottom of this previous resistance level was 17 pips
(The process behind this SELL POSITION) - 7/12/2023
- It began with analyzing the current market trends when I came to discover this new resistance level #3 that has a total of eight bullish candle wicks touching it, which is more bullish candle wicks than the previous resistance level #2 above it, that was able to influence the price to go down 113 pips below the 2nd bullish candlewick and prevent the price from hitting a 3.5 pip stop loss above the 2nd bullish candlewick - this is the reason why I believe this new resistance level has the potential power and ability within itself to influence the price of CADJPY to drop down further than 145 pips below the 8th bullish candlewick and protect the price from hitting my stop loss.
- The price of this new resistance level is set between $106.189 and $106.013
(GREATER CHARTVIEW🌅)
(MY SELL POSITION OFF THIS RESISTANCE LEVEL #3)
My ENTRY PRICE was $106.063 - The current price of CADJPY is $105.657
The price of my take profit is set at $104.377 (169.5 pips)
The price of my stop loss is set at $106.248 (18.7 pips)
- MY RISK MANAGEMENT RULES ARE APPLIED IN THIS POSITION
- ALWAYS APPLY PROPER RISK MANAGEMENT TO YOUR TRADING PLAN
- IF YOU FOUND THIS BENEFICIAL, YOU CAN SUPPORT ME AGAIN BY HITTING THE BOOST AND FOLLOWING ME FOR MORE IDEAS 💯
Buomkuoth Nhial Reath 💎
JESUS CHRIST IS LORD
- To start off, I've noticed and studied the fact that the price of CADJPY has been influenced by multiple resistance levels in the last five days, which caused a -2.53% decrease because of these key factors
1st factor = There was a resistance level from last week that had a total of 4 bullish candle wicks touching it, which significantly impacted the price - leading it to drop 274 pips after the 4th bullish candlewick.
- the price of this previous resistance level was set between $108.438 and $108.268
2nd factor = The gap between the top and the bottom of this previous resistance level was 17 pips
(The process behind this SELL POSITION) - 7/12/2023
- It began with analyzing the current market trends when I came to discover this new resistance level #3 that has a total of eight bullish candle wicks touching it, which is more bullish candle wicks than the previous resistance level #2 above it, that was able to influence the price to go down 113 pips below the 2nd bullish candlewick and prevent the price from hitting a 3.5 pip stop loss above the 2nd bullish candlewick - this is the reason why I believe this new resistance level has the potential power and ability within itself to influence the price of CADJPY to drop down further than 145 pips below the 8th bullish candlewick and protect the price from hitting my stop loss.
- The price of this new resistance level is set between $106.189 and $106.013
(GREATER CHARTVIEW🌅)
(MY SELL POSITION OFF THIS RESISTANCE LEVEL #3)
My ENTRY PRICE was $106.063 - The current price of CADJPY is $105.657
The price of my take profit is set at $104.377 (169.5 pips)
The price of my stop loss is set at $106.248 (18.7 pips)
- MY RISK MANAGEMENT RULES ARE APPLIED IN THIS POSITION
- ALWAYS APPLY PROPER RISK MANAGEMENT TO YOUR TRADING PLAN
- IF YOU FOUND THIS BENEFICIAL, YOU CAN SUPPORT ME AGAIN BY HITTING THE BOOST AND FOLLOWING ME FOR MORE IDEAS 💯
Buomkuoth Nhial Reath 💎
JESUS CHRIST IS LORD
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