CAD/JPY Trade Setup 19/03/2021
Price was on an uptrend making higher highs.
The trend line was broken and RSI shows bearish divergence by creating higher lows.
TP's were drawn on previous support since this is a sell.
SL was drawn near previous resistance.
Trade setup for the GBP/CAD pair.
The strategy is based on rsi bullish divergence.
Price is on a downtrend and making lower lows; while rsi appears to be following an uptrend and is making higher lows.
Entry should be done once breakout takes place and a retest on the line is done.
TP's were drawn under different resistance levels.
SL was drawn under previous...
Just a quick test to see if it works. Expecting ETH to drop until purple line and then spring into blue line as based on previous price action. Will keep an eye on BTC as well, since both appear to be extremely correlated.
Let me know you thoughts.
XRP going to test triangle in the next hours.
-If it breaks it we can go into next resistance line
-if if fails to test it can go back into support line
-first test of triangle will happen in next couple of hours