Chart time frame - H4 Timeframe - 1-3 days Actions on - A – Activating Event Market will meet resistance @83.93 level and fall to the @82.4 level. In order to enter, the pair needs to be rejected by the Bollinger Band line.... B – Beliefs Market move towards the first Target 1 level @ 82.4
@BenWright21, haha glad we did man :) happy trading brother.
gj7rwt
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Just looking at the 4hr chart I see we could possibly have a bearish engulfing candle in the next 30 minutes, combined with an rsi that's overbought. Could be an excellent shorting opportunity. Thanks for highlighting this pair :-)
SMPTrader
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@gj7rwt, Thanks for your comment :) You just never know with trading and thats the wonderful thing about it.We just have to ensure we follow our trading rules/plan and thats all there is to it.
On double tops the second top normally pushes higher. If the CAD pushes and holds above the resistance line i will be on the sidelines :)
SMPTrader
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@BenWright21, I still feel that the CAD will push at least up to the resistance line
MoneyballAustin
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im short bias that cadjpy right now because we are sitting in daily supply right now.