This pair seems to be creating a Flag Pattern on the Daily Chart (See chart below).
In the flag, I see a bullish opportunity in an ABCD pattern. Price has broken out of the 60 min downward trendline, and has retested the trendline again at the 0.618 fib area of the retracement.
I take a buy now in the short term with target around 114.2 area.
If price reaches that area, I will wait for another set up to long to the 115.2 area.
I will update trade with time.
your likes and comments are welcome.
Trade with care, and with a tested strategy.
In the flag, I see a bullish opportunity in an ABCD pattern. Price has broken out of the 60 min downward trendline, and has retested the trendline again at the 0.618 fib area of the retracement.
I take a buy now in the short term with target around 114.2 area.
If price reaches that area, I will wait for another set up to long to the 115.2 area.
I will update trade with time.
your likes and comments are welcome.
Trade with care, and with a tested strategy.
Comment:
Flag on the Daily Chart
Comment:
+60 pips.
You can close half position, and put rest at Break even.
You can close half position, and put rest at Break even.
Comment:
Sorry. Pair is CHFJPY (not CADJPY as indicated in the title of idea). Thanks