Today i break down the CAD.JPY, not because there is a trade setup but because i feel there is valuable information to be learned about why multi-timeframe analysis is important.
Please note that i am not looking to take a long position on this pair at the moment, it is simply outlining how i look for trade opportunities and the brief analysis behind it.
There is no reason not check out monthly and weekly time frames, even if you don't trade them.
Great Analysis and solid explanation of the logic behind your strategy.
UnknownUnicorn180388
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@cbreaux614, I agree.
Thanks very much for the message, greatly appreciated.
Cordell_Breaux
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@tomhall, You're welcome, But i want to also thank you. I'm new to Forex and was languishing in mediocrity over my first 6-8 months. It's only after taking a step back to look at weeklies and monthlies did I find confidence in taking a position on the lower time frames.
Take care,
UnknownUnicorn180388
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@cbreaux614, That's great to hear and i'm glad you've had the open mindedness to adjust and overcome.