Posted by: joetradingplace | May 15, 2015

Cadjpy ready to drop????

Looking at the hourly chart, you can notice that buyers has been pushing prices higher since mid April, but the buying pressure hasn’t been aggressive. There was significant momentum on the 15th April, but the follow through after that hasn’t been impressive, although buyers have been making progress, its a very slow progress.This is a sign that buying pressure is weakening…also look at the compression as price moves up, this shows that all the demand is being absorbed and usually if price decides to drop, the drop is rapid, because all the demand has been absorbed. Thats my thinking process right on cadjpy.

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