Why are we entering? - Price broke the ascending trendline = bearish - Expecting further CAD weakness & JPY strength after a short retracement period = CADJPY SHORT
What are we waiting for to happen? - Waiting for the next pullback so we can draw WFB
What is our confirmation? - rejection of structure and EMA - Waiting to draw WFB
Entry Safe Entry: Rejection of structure and then WFB once correction appears Risk Entry 1: Rejection of structure and Fib
Once entered, where will our Stoploss be? - above the rejected price
Where do we take profits? - First TP: 89.3 - Second TP: 88 - Third TP: 86