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Apr 22, 2024 9:08 PM

CADJPY Top-Down Analysis 22/04/2024 Long

Canadian Dollar/Japanese YenFXCM

Description

1. Daily uptrend creating higher highs and higher lows.

2. Recent impulse created a new higher high.

3. We expect a retracement before continuation.

4. 4h range breakout creating a new high.

5. Before continuation price must retrace to gather further orders.

6. A structured pullback would provide evidence towards continuation on breakout.

7. High probability setup when trading with the trend.

8. Heavily tested strategy with a known success rate.
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