After a strong bullish impulse, CADJPY has entered a critical supply zone where price previously showed signs of exhaustion. On the 15-minute chart, the pair formed a clear liquidity grab above the previous highs and then started showing rejection candles — an early sign of potential bearish momentum.
Here’s the detailed reasoning behind my short setup 👇
After the Asian session bullish rally, price aggressively tapped into a premium zone (highlighted in green). This area aligns perfectly with a 4-hour supply zone and the 61.8% Fibonacci retracement of the recent down move. The rejection wick above 109.30 confirmed that institutional players might have started distributing positions from this level.
As price failed to maintain above 109.33, I marked this as a fake breakout or liquidity sweep zone, and planned my sell entry at 109.21 with a stop loss above the high at 109.33. My target is placed around 108.84, where previous liquidity rests below equal lows — a perfect place for the market to rebalance.
The setup reflects a clean Smart Money Concept (SMC) trade:
Liquidity grab above previous highs
Entry from premium supply zone
Bearish rejection candle confirmation
High R:R ratio towards untested liquidity pool
If the price breaks above 109.35 decisively, the setup will be invalidated, and I’ll look for fresh order blocks for a new opportunity.
📊 Bias: Bearish (Intraday)
⏱️ Timeframe: M15
🎯 Target: 108.84
❌ Stop Loss: 109.33
💼 Entry: 109.21
This trade idea focuses on smart entry timing with controlled risk. Remember — the key is not prediction, but precision and patience.
Here’s the detailed reasoning behind my short setup 👇
After the Asian session bullish rally, price aggressively tapped into a premium zone (highlighted in green). This area aligns perfectly with a 4-hour supply zone and the 61.8% Fibonacci retracement of the recent down move. The rejection wick above 109.30 confirmed that institutional players might have started distributing positions from this level.
As price failed to maintain above 109.33, I marked this as a fake breakout or liquidity sweep zone, and planned my sell entry at 109.21 with a stop loss above the high at 109.33. My target is placed around 108.84, where previous liquidity rests below equal lows — a perfect place for the market to rebalance.
The setup reflects a clean Smart Money Concept (SMC) trade:
Liquidity grab above previous highs
Entry from premium supply zone
Bearish rejection candle confirmation
High R:R ratio towards untested liquidity pool
If the price breaks above 109.35 decisively, the setup will be invalidated, and I’ll look for fresh order blocks for a new opportunity.
📊 Bias: Bearish (Intraday)
⏱️ Timeframe: M15
🎯 Target: 108.84
❌ Stop Loss: 109.33
💼 Entry: 109.21
This trade idea focuses on smart entry timing with controlled risk. Remember — the key is not prediction, but precision and patience.
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