CAD/JPY: Weekly bearish breakout of correction
Looking for the monthly bat completion, last push down and possible AB=CD...?
I want to short this now based on the breakout, beginning of next week..., example setup on chart will be adjusted depending on the exact entry.
Possibly wait on a re-test or correction below the broken trendline to get a better entry or more confirmation.
SL at least above the high of the previous 1-2 days..., above the weekly breakout candle high is safer but less favourable R/R-wise, depends on one's risk-appetite or trading rules...
I want to short this now based on the breakout, beginning of next week..., example setup on chart will be adjusted depending on the exact entry.
Possibly wait on a re-test or correction below the broken trendline to get a better entry or more confirmation.
SL at least above the high of the previous 1-2 days..., above the weekly breakout candle high is safer but less favourable R/R-wise, depends on one's risk-appetite or trading rules...
Trade active:
Small short entered, will add if it goes well...
Trade closed: stop reached
