Hi Traders! CADJPY sell opportunity update and follow up is here. In the previous post here I mentioned “On the H4 chart we have a potential special cycle and currently it looks like this special cycle has completed itself. We also have bearish divergence which we may consider as an evidence of bearish pressure. If the price moves lower and breaks below the low shown in the screenshot, we may then start looking for sells with more bearish evidences”. Lets see how this setup has developed now.
CADJPY H4 Chart:
On the H4 chart the price moved exactly as per our plan, it moved lower and broke below the last low as we expected. The price is currently moving lower, we have collected good profits with this sell trade so far.
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