CADJPY short at a strong S/R level
I think this could be a great short trade however I would wait one more day as yesterdays large bullish candle indicates presence in the market. Furthermore the triple bottom is also a negative factor to this trade The factors of confluence are:
- trade is with the trend
-rejection of .618 fib
- reversal candle shape
- rejection of 92.4 key area
With a tight stop this could lead to a 5:1 trade so keep it on your watch list!
- trade is with the trend
-rejection of .618 fib
- reversal candle shape
- rejection of 92.4 key area
With a tight stop this could lead to a 5:1 trade so keep it on your watch list!
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