Hi there,
Overall for the 3rd quarter of the year, I speculate a bullish candle close, however, for price to rally, it needs to trade lower to gather the needed liquidity. Hence, the short-term bearish move.
If you turn your chart to the 3M, you will see the wick of the last quarter's candle which translates to the Monthly OB that price is most likely to trade into after running multiple stops.
Check out my next post on CADJPY.
Cheers,
Jabari
Overall for the 3rd quarter of the year, I speculate a bullish candle close, however, for price to rally, it needs to trade lower to gather the needed liquidity. Hence, the short-term bearish move.
If you turn your chart to the 3M, you will see the wick of the last quarter's candle which translates to the Monthly OB that price is most likely to trade into after running multiple stops.
Check out my next post on CADJPY.
Cheers,
Jabari
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.