A #short trade opportunity recently presented itself on the #loonieyen (#CADJPY) #trading chart 📉.
This is indicated by the #bearish engulfing candlestick 🕯️ pattern just below the 110.036 horizontal resistance level.
This indicates a rejection of the same level, with potential price move in the downward ⬇️ 👇 direction (#sell).
Sufficient downward momentum should see price dumping towards the 108.000 psychological level and possibly testing the strength of the 107.517 horizontal support level.
As always, please apply appropriate risk management.
Happy trading!
#crosspair
This is indicated by the #bearish engulfing candlestick 🕯️ pattern just below the 110.036 horizontal resistance level.
This indicates a rejection of the same level, with potential price move in the downward ⬇️ 👇 direction (#sell).
Sufficient downward momentum should see price dumping towards the 108.000 psychological level and possibly testing the strength of the 107.517 horizontal support level.
As always, please apply appropriate risk management.
Happy trading!
#crosspair
