akyong
Long

CADJPY: Bullish Big Shadow Setup

FX:CADJPY   Canadian Dollar/Japanese Yen
49 0 0
On the H4 chart, there is a bullish big shadow, engulfing the previous candles near the support level.

Buy stops can be placed just above the high of the big shadow candle with stops below the candle.

As there is no significant resistance levels near the top, we can adopt a trailing stop approach to take profits of this trade.
Chief Currency Strategist
Alpha Play Forex Trading School - www.alphaplay.com.sg
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