CADJPY, 4hr timeframe, breakout of triangle/wedge pattern
Hello my friends,
I've been inactive for the past days because i haven't found a good trading setup yet.
As today is Sunday, i spent some time to analyze the market and found some good trading opportunities for the coming week.
I am gonna share all my plans for next week to all of you in this tradingview.
So please drop a like to my post and follow me for all my next updates.
Let's begin with the first setup, CADJPY pairs.
I marked all the potential support and resistance using horizontal line.
Price has been respecting through the ascending trend line for 1 months since September 22nd and just broken below it in the last 2 days.
It then retested it on Friday so we will start selling this pair.
In this trade setup i am gonna show you 3 potential target profit. You could adjust yourself accordingly to fit your risk appetite.
Sell CADJPY 79.75
Stop loss 80.00
Take profit 1 at 79.10 (RR ratio 1 : 2.6)
Take profit 2 at 77.50 (RR ratio 1 : 9)
Take profit 3 at 76.50 (RR ratio 1 : 13)
Use only 1-2% risk
Good luck
Disclaimer : I am gonna start selling CADJPY on the opening of market tomorrow
I've been inactive for the past days because i haven't found a good trading setup yet.
As today is Sunday, i spent some time to analyze the market and found some good trading opportunities for the coming week.
I am gonna share all my plans for next week to all of you in this tradingview.
So please drop a like to my post and follow me for all my next updates.
Let's begin with the first setup, CADJPY pairs.
I marked all the potential support and resistance using horizontal line.
Price has been respecting through the ascending trend line for 1 months since September 22nd and just broken below it in the last 2 days.
It then retested it on Friday so we will start selling this pair.
In this trade setup i am gonna show you 3 potential target profit. You could adjust yourself accordingly to fit your risk appetite.
Sell CADJPY 79.75
Stop loss 80.00
Take profit 1 at 79.10 (RR ratio 1 : 2.6)
Take profit 2 at 77.50 (RR ratio 1 : 9)
Take profit 3 at 76.50 (RR ratio 1 : 13)
Use only 1-2% risk
Good luck
Disclaimer : I am gonna start selling CADJPY on the opening of market tomorrow
Trade closed: target reached:
close for now at 78.50
we could see some retracement as price hitting strong support as well
we could see some retracement as price hitting strong support as well