Hey traders, just want to share my thoughts on CADJPY
Pattern Identification
Currently, price has been respecting this ED channel on the H4 chart for the past 3 months.
There is currently no Harmonic patterns that is completing.
Trade Execution
I will personally wait for a rejection at the upper boundary of the H4 channel before I think about executing a short.
No rejection no trade!
Stops have to go above previous high, I will set it around 87.90.
TP will be at 84.90
This trade will be invalidated if a breakout upwards occur at 87.
Pattern Identification
Currently, price has been respecting this ED channel on the H4 chart for the past 3 months.
There is currently no Harmonic patterns that is completing.
Trade Execution
I will personally wait for a rejection at the upper boundary of the H4 channel before I think about executing a short.
No rejection no trade!
Stops have to go above previous high, I will set it around 87.90.
TP will be at 84.90
This trade will be invalidated if a breakout upwards occur at 87.