THIS IS PLAN BASED ON TECHNICALS.

CADJPY DAILY

MARKET IS BEARISH. RESISTANCE IDENTIFIED BY ORANGE BARS. PRICE BOUNCED OFF MPP AND IS CURRENTLY AT MS1 SUPPORT. PIVOT POINT THEORY SUGGESTS TARGET FOR BEARS IS MS2. HOWEVER SEEING THAT WE ARE AT SUPPORT WITH AN OVERSOLD STOCHASTICS, A BULL WILL LOOK TO BUY THE PULLBACK TO RESISTANCE.

CADJPY H4

MARKET IS SIDEWAYS. PRICE IS CURRENTLY AT WEEKLY PROFIT ZONE WITH AN EXTREMELY OVERSOLD STOCHASTIC. BULLS WILL LOOK TO GO LONG WHEN BEARS BOOK THEIR PROFIT.

CADJPY H1

MARKET IS SIDEWAYS, HOWEVER 55 ABOVE THE 21 & 8 ABOVE THE 5 TELLS US WE ARE BEARISH. PRICE IS AT SUPPORT MARKET IN GREEN JUST ABOVE DS1. THE CONFLUENCE PIVOTS OF MS1 & WM2 SEEM TO BE HOLDING PRICE. STOCHASTICS JUST TURNED AND FACING SOUTH. RESISTANCE IDENTIFIED BY THE ORANGE BARS. CONFIRMATION FROM LOWER TIME FRAMES WILL ENABLE ME TO TAKE THIS TRADE.

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