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DrBear
Aug 9, 2022 2:57 PM

CADJPY SCALP SHORT Short

Canadian Dollar/Japanese YenFXCM

Description

Hi Team

This is a short and sweet technical chart analysis.

We are in a short consolidation phase (likely due to low market volume) at the end of an ABC correction for this pair, sitting just below regional pyschological resistance.

I expect a drop at least to the 1H ascending correction support, if not further.

This is a straightforward trade - clear invalidation level marked, and high probability TP.

The markets are moving with low volume at the moment, so I will only be posting ideas with merit. Likely will see more from me tomorrow.

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Good luck, Trade safe

DrBear

Trade active

Trade active

TP1 hit! SLBE. Wait for TP2.
Comments
DrBear
Moving sideways. Just waiting for the USD news later today!
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