CADJPY is very extended and could use a breather. Next week I will be looking for possible long trade up if the patterns play out as illustrated. We're not going to complicate things, Bear Flag and Potential Double Bottom formation with a good RSI Divergence. Preferably Daily Chart to have an RSI Divergence as well.
Daily Time frame
Strategically, if this trade works out, I am not going to close it but to position myself as this could possibly be the bottom. Will explain in future videos and progress.
Have a great weekend.
Like, Share, Comment is all welcome.
Cheers
Commentaire
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Half way mark to TP
Commentaire
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Making new higher highs. Good signs of continuation as we broke past the previous high.
Your chart does not make a sense, because.. no clue for retracement.
trungle83
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@thdehddns, Daily level at support and the down trend has been over extended. I'm looking for a bear flag formation and potential pre-double bottom move off along with some RSI div. Daily RSI showing DIV.