Hi guys,
In this post I am going to point out the area of interests to trade on CADJPY.
The closest and the first trade is the buy with 5 pips SL and 10 pips TP, downtrend is getting weak and long position seems optimal. I personally exit half of the position on 10 Pip and Trailing Stop below higher low in 1 min TF until 20 pips tp exit completely.
In the chart you might be able to see other lines that might be able to trade with 5 pips SL, there are risky but I would do it normally half of the size I get on less risky trades, if the trades hit SL on the trades, I immediately put another opposite trade on the same line and this is how my strategy work with this S/R lines
In this post I am going to point out the area of interests to trade on CADJPY.
The closest and the first trade is the buy with 5 pips SL and 10 pips TP, downtrend is getting weak and long position seems optimal. I personally exit half of the position on 10 Pip and Trailing Stop below higher low in 1 min TF until 20 pips tp exit completely.
In the chart you might be able to see other lines that might be able to trade with 5 pips SL, there are risky but I would do it normally half of the size I get on less risky trades, if the trades hit SL on the trades, I immediately put another opposite trade on the same line and this is how my strategy work with this S/R lines