Entry: 116.502
Stop Loss: 26 pips
Take Profit: 52 pips
Risk to Reward: 1:2.0
📉 Trade Idea – Short Bias
CADJPY has tapped into a premium zone after an extended bullish leg. Price reacted sharply from the supply block with signs of exhaustion, creating wicks and rejection candles around 116.50–116.60, indicating potential distribution.
We are looking to short as price re-enters the zone and shows rejection.
🔍 Technical Confluence
Price is trading deep inside a higher-timeframe supply zone.
Multiple SMC rejection points (CHoCH + BOS) signaling loss of bullish momentum.
A clean liquidity sweep above recent highs, followed by a bearish shift.
Market currently sitting above an inefficient gap, which price may want to rebalance downward.
RR of 1:2 supports strong risk-adjusted trade.
📌 Trade Plan
Sell: 116.502
SL: 116.762 (26 pips above entry, above rejection structure)
TP: 115.982 (52 pips, targeting FVG + demand imbalance below)
📝 Outlook
If CADJPY continues respecting the supply and fails to break above the recent liquidity sweep, we may see a corrective move into the demand zone around 115.95–116.00. This aligns perfectly with our 52-pip target.
Weak CAD + risk-off sentiment in Yen pairs also adds to bearish probability.
Stop Loss: 26 pips
Take Profit: 52 pips
Risk to Reward: 1:2.0
📉 Trade Idea – Short Bias
CADJPY has tapped into a premium zone after an extended bullish leg. Price reacted sharply from the supply block with signs of exhaustion, creating wicks and rejection candles around 116.50–116.60, indicating potential distribution.
We are looking to short as price re-enters the zone and shows rejection.
🔍 Technical Confluence
Price is trading deep inside a higher-timeframe supply zone.
Multiple SMC rejection points (CHoCH + BOS) signaling loss of bullish momentum.
A clean liquidity sweep above recent highs, followed by a bearish shift.
Market currently sitting above an inefficient gap, which price may want to rebalance downward.
RR of 1:2 supports strong risk-adjusted trade.
📌 Trade Plan
Sell: 116.502
SL: 116.762 (26 pips above entry, above rejection structure)
TP: 115.982 (52 pips, targeting FVG + demand imbalance below)
📝 Outlook
If CADJPY continues respecting the supply and fails to break above the recent liquidity sweep, we may see a corrective move into the demand zone around 115.95–116.00. This aligns perfectly with our 52-pip target.
Weak CAD + risk-off sentiment in Yen pairs also adds to bearish probability.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.