CADJPY: Multiple Timeframe Analysis, Double Top and Rising Wedge
Hello Fellow Global Forex Trader, Here's a Technical outlook for CADJPY!
Price Action Analysis
On the Daily Timeframe, CADJPY is moving below EMA200. Then, the Pair retested the previous neckline of the double-top and formed a rising wedge pattern, indicating a possible downside movement. The MACD Indicator made a death cross, signifying a potential downside movement to the target area.
On the H4 Timeframe, CADJPY also created a breakout of the double top pattern, confirming the bearish scenario ahead.
All other explanations are presented on the chart.
The roadmap will be invalid after reaching the target/ resistance area.
Support the channel by smashing the rocket button and sharing your opinions in the comment below!
"Disclaimer: The outlook is only for educational purposes, not a recommendation to put a long or short position on the CADJPY"
Price Action Analysis
On the Daily Timeframe, CADJPY is moving below EMA200. Then, the Pair retested the previous neckline of the double-top and formed a rising wedge pattern, indicating a possible downside movement. The MACD Indicator made a death cross, signifying a potential downside movement to the target area.
On the H4 Timeframe, CADJPY also created a breakout of the double top pattern, confirming the bearish scenario ahead.
All other explanations are presented on the chart.
The roadmap will be invalid after reaching the target/ resistance area.
Support the channel by smashing the rocket button and sharing your opinions in the comment below!
"Disclaimer: The outlook is only for educational purposes, not a recommendation to put a long or short position on the CADJPY"
Catatan
Catatan
Falling Wedge on JPYBASKET, Indication of Bearish Momentum for CADJPYTrading ditutup: target tercapai
Done Target 1, Second Target Here We go?Trading ditutup: target tercapai
Done Target 2, See ya in the next roadmap!
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.