Momentum precedes prices.
Yesterday the CAD/JPY broke down sharply below key structural points. The discounting in price (Retracement) was very deep and slow.
Now, based on the reappearance of the 4th structure (Blue Dots) which to us indicated that we can now look for a sell setup. We executed a sell using the WT Candle plus break of the London session market side (Vwap).
Potential target is 111.36
Stop Loss is 112.00
Deep Retracement – CAD/JPY Intraday setup
Follow up video on tradingview:
damm you called this spot on, i just watched your video on trading for beginners on udemy and came here looking for the part b, after watching this video i went to check the cad/jpy chart and saw the downtrend/secondary trend that you called, the price came down to 111.5, im still new to trading but watching this video gave me more encouragement in my trading journey