CADJPY Buy
Downswing retraced to .382 line of most recent uptrend (Aug 2 - Sep 13) approx 12 hrs ago.
Price interacting w/ 2 key points which could be a setup for a breakout:
1) trend line of this uptrend (best seen on 4 hr timeframe).
2) Top trend line of Bullish falling wedge pattern seen on 1 hr timeframe.
JPY news in about 8 hrs could lead to this breakout (of course if news shows JPY raising interest, this could end up in the opposite direction...).
Using support line to determine SL & TP set at 3:1 RRR. Entry could be now at lower support line, or just above structure formed over past 24 hrs.
Price interacting w/ 2 key points which could be a setup for a breakout:
1) trend line of this uptrend (best seen on 4 hr timeframe).
2) Top trend line of Bullish falling wedge pattern seen on 1 hr timeframe.
JPY news in about 8 hrs could lead to this breakout (of course if news shows JPY raising interest, this could end up in the opposite direction...).
Using support line to determine SL & TP set at 3:1 RRR. Entry could be now at lower support line, or just above structure formed over past 24 hrs.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.