CADJPY - POTENTIAL SHORT ENTRY
Price is approaching towards an order block where resistance is lurking, creating a potential opportunity for a sell.
Impulse Short entries can be taken once price rejects that region.
Rising Wedge and Bearish Pennant formations has occurred, which signifies a potential bearish breakout soon.
We had our sells set up with potential downside in the R:R ratio of 1:3.
SL can be placed above the order block region whereas TP can be placed in the region of the previous low.
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