CAD/JPY - Bullish Divergence at Support

CAD/JPY is currently sitting at a Support zone , and has formed a bullish momentum divergence.

Take Profit Level 1 is at the next Resistance zone , while Take Profit Level 2 is at the subsequent one. TP1 is a quick scalp, TP2 is a long-term movement that will take days/weeks to play out.

Stop loss depends on your RR ratio, account size etc. I have a fairly tight stop, as my levels are validated and relevant (meaning: if they break, the trade is invalidated).

All the best.

Order cancelled: Well this one was a complete bust! They happen.

Move on to the next trade.


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