So I've been watching this uptrend on the Canadian Dollar against the Japanese Yen . Since I am just an amateur trader, I entered this trend too late. But I am trying to catch at least the last bit of it, just a short and quick scalp. On the hourly charts I noticed that the was well above 70. I knew the price had to drop a bit and that would be my entry point. Entered at 85.288 (which wasn't exactly the best entry point seeing how the price dropped a little more over night).
"Always Look Left": I looked at previous highs from March and May and used those as my resistance. The price from May (85.510) became my take-profit and also my first target. If trend continues and passes that target I will be on the look out to see if it hits the price from March (87.458).