Price is situated at the upper range on the cadjpy on the daily chart.
So the bias is bearish, lets switch to a lower time frame to see if there might be some good entry.
We may wait also on this example for the stochastik to enter in overbought territory and take the next cycle down as long as our risk reward compensates for a trade entry.
If price just drops to much with the actual cycle then we need to skip the trade.
This is called fractal geometry where we try to allign price of several timeframes.
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