Since 15-th september CADJPY is in a down trend. All the times that it made a lower low we can see a sharp reversal and after that trend continuation to downside. What is amazing is that all the time after the sharp reversal price created double tops.
For the time being price filled the Gap created on monday and it can goes higher but what i observed are two daily candles , one Shooting star and one Doji candle that created the last double top on 240 min TF . This two candles tested a really strong resistance zone and near trend line. So in my opinion i am looking for the downside move as it fits better but if price goes above this two candle s and resistance trend line then we can see a big move to upside.
Good Luck!
For the time being price filled the Gap created on monday and it can goes higher but what i observed are two daily candles , one Shooting star and one Doji candle that created the last double top on 240 min TF . This two candles tested a really strong resistance zone and near trend line. So in my opinion i am looking for the downside move as it fits better but if price goes above this two candle s and resistance trend line then we can see a big move to upside.
Good Luck!
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