#MarketBreakdown
Bullish Accumulation Ӏ CADJPY
Daily
The market is trading in a
bullish trend since Novermber.
However, analyzing
price action, we see that though the price keeps setting
higher lows since December, the market sets
equal highs and did not manage to set a new high
Based on that an
ascending triangle can be drawn.
That pattern represents a
bullish accumulation.
The price can be
stuck within a triangle for a long period of time.
To catch the next
swing move we must wait for a
daily violation (daily candle close above the horizontal resistance).
Then
bullish continuation will most likely follow.
