CAD/JPY is currently sitting at a Support zone, and has formed a bullish momentum divergence.
Take Profit Level 1 is at the next Resistance zone, while Take Profit Level 2 is at the subsequent one. TP1 is a quick scalp, TP2 is a long-term movement that will take days/weeks to play out.
Stop loss depends on your RR ratio, account size etc. I have a fairly tight stop, as my levels are validated and relevant (meaning: if they break, the trade is invalidated).
All the best.
DD
Take Profit Level 1 is at the next Resistance zone, while Take Profit Level 2 is at the subsequent one. TP1 is a quick scalp, TP2 is a long-term movement that will take days/weeks to play out.
Stop loss depends on your RR ratio, account size etc. I have a fairly tight stop, as my levels are validated and relevant (meaning: if they break, the trade is invalidated).
All the best.
DD
Ordre annulé:
Well this one was a complete bust! They happen.
Move on to the next trade.
Move on to the next trade.
