CADJPY is trending nicely on the 4hr chart. On the 1hr we can see the pullback retracement to this hot zone. Wait for a price action/formation to hint that the main trend is continuing.
@ key level
@ fib retracement
@ dsr zone (3sma)
@ previous swing
dsr was proven resistance previously
Traderchiel
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Price has retraced back into the 4hr 3sma DSR zone.
Wait for price action formation on a lower time frame (1hr) to confirm whether retracement is coming to an end.
Traderchiel
⋅
This is a possible setup according to the 3sma methodology (Hector DeVille).
@ fib retracement
@ dsr zone (3sma)
@ previous swing
dsr was proven resistance previously