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elevatedinvestor

CADJPY Long Possible 5:1

Long
Canadian Dollar / Japanese Yen (OANDA:CADJPY)  
elevatedinvestor  
OANDA:CADJPY   Canadian Dollar / Japanese Yen
Harmonic Patterns Chart Patterns Trend Analysis CADJPY harmonicsforex
3
1
harmonicpatterns chartpattern trendanalysis cadjpy harmonicsforex
Entry Reasoning:

-82.00 has had strong reactions (Support)
-We have two swing lows with bullish divergence
-We are approaching a bullish trendline (Support)
-We have a bullish bat pattern

Take Profit Reasoning:
-1.27 Extension of the bat pattern
-Strong resistance on the daily

Aggressive Buy - Put limit order at 82.02
Conservative Buy- Wait for orange trendline to break, then enter on pullback

Stop Loss- 10 Pips beyond the 1.13 of the bat pattern
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