CAD/JPY(4H Chart): A PERFECT SELL SETUP.👌

٢٣ أغسطس ٢٠٢١

Chart Breakdown📉

• Daily Timeframe
  We have a new trend forming, a downtrend, as price intersected the previous HL of the uptrend.
  
  
• 4Hour Timeframe
  We have an uptrend but like the daily timeframe, price breached the uptrends previous HL which signals the beginning of a downtrend.
  Price is forming a break and re-test setup on the uptrend trendline whereby I'm waiting to enter sells upon confirmation. Confirmation
  will occur when price retests the trendline and forms a bearish reversal candlestick to confirm entries.
  
  
• 1Hour Timeframe
  We have a downtrend on this timeframe further giving us reason to go bearish.
  

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DR.Swing_Forex