Here's a good trade that i believe will make some profit.
If we look at the 4H TF, the support is around the 81.30 price, and as you can observe, there is multiple rejections around this price point, followed by upward trend.
Then, there is a minor resitance at the 83.47 level followed by a pullback. From here, i think we can buy the CADJPY to the level of 0.5.
T/P at 85.70 S/L at 80.80 (you can also S/L below the previous low at 80.50 back in 04/2017, but i feel this is where my risk level is at) R:R 1.8
Please don't trade more than 2% of your capital
Hope you get some profit out of this idea Cheers!
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Hey guys, so here is an update of the chart that i find quite interesting. If we look left, we will see there is a up-down trend before an strong up-ward swing.
I believe that this trade will follow similar pattern and i will be looking into the number of swing movements before taking another trade.
I still believe that this chart will explode upwards.