CADJPY: Sell Opportunity

The market gives us a trend reversal signal based on a bearish divergence and the 4H chart. MACD histogram and lines support a downward movement. DMI is bullish, but ADX line falls. It is a signal that buyers are not so active as before.

If the price breaks the local uptrend line, it will give us a possible sell opportunity based on the trend reversal signal. Stop-loss orders for sell trade should be placed above the local swing high. Profit targets should be at SMA100, SMA200, and the daily uptrend line.



Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.