Today I tried to buy CADJPY with a stop-loss at 106.18 and a take-profit at 106.75. CADJPY on the M15 timeframe. Looking at the beginning of the chart, the price slowly fell until it broke below the moving average. This decline was followed by a fairly long consolidation phase, with the candles forming tending to be small and with a narrow range. This condition indicates that the market is in an accumulation phase, where market participants are still waiting for new momentum. After that, the price managed to push upward and returned to the moving average area, even breaking through it. However, this bullish momentum was not strong enough to establish a sustainable uptrend, as the price then fell again.