CADJPY short

9 Ağu 2022

Price is breaking through the daily pivot support level, does not seem like it will hold. There is a bearish divergence with momentum going negative. ADX is trending, however 1hr DI positive is about to flip negative. Price is at top of ascending channel. Also at supply zone. I see a demand zone which is a potential take profit zone, this makes a very good risk reward trade. It is a high risk trade because this is a pullback trade.