CADJPY SHORT
Analysis
-CADJPY daily candle closed as a spinning top or indecision candle at a solid resistance level.
-Price overall is near the top of a symmetrical triangle (daily pattern = strong)
-Stoch/CCI/RSI all near overbought area
Trigger
Set pending sell stop on the break of the spinning top candle's lows.
Trade
Set stops above the highs of the spinning top and targets around 84.60. A solid 1:2 risk to reward ratio could be achieved as targets fall within the range.
High probability setup with good risk:reward.
-CADJPY daily candle closed as a spinning top or indecision candle at a solid resistance level.
-Price overall is near the top of a symmetrical triangle (daily pattern = strong)
-Stoch/CCI/RSI all near overbought area
Trigger
Set pending sell stop on the break of the spinning top candle's lows.
Trade
Set stops above the highs of the spinning top and targets around 84.60. A solid 1:2 risk to reward ratio could be achieved as targets fall within the range.
High probability setup with good risk:reward.
Trade closed: stop reached
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.