CAD JPY
Updated
Price has formed AB=CD pattern.
Has made initial push downwards after reaching support level.
Divergent on RSI.
I would be curious if it sets up a 3 drive pattern.
Two take profits identified of support and trendline, each gives 1:6 and 1:10 risk reward if place correctly.
Has made initial push downwards after reaching support level.
Divergent on RSI.
I would be curious if it sets up a 3 drive pattern.
Two take profits identified of support and trendline, each gives 1:6 and 1:10 risk reward if place correctly.
Note
First take profit was hit with price bouncing up. Price is still in profit.The bounce was made from structure.
I expect the price to continue falling towards the ascending (blue) trend line and coincide with the falling (yellow) trendline.
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