LONG trade idea for CAD/JPY
Updated
CAD/JPY is looking almost ready to break out of the triangle that it is currently stuck in. I'm looking for a retest of the current support and then a break above the current indecision area heading to the previous level of resistance. If price breaks, but doesn't hold above the current support and instead heads south, then I won't take the trade and will wait until it finds support and reevaluate the trade. R/R will be pretty standard for this one. Here are the levels that I'm looking for.
Risk - 1%
R/R - 3
Entry - 91.743
Stop Loss - 91.469
Take Profit - 92.532
As always,
Stay safe and stick with your plan.
Risk - 1%
R/R - 3
Entry - 91.743
Stop Loss - 91.469
Take Profit - 92.532
As always,
Stay safe and stick with your plan.
Note
So it would appear that price didn't break out like I had hoped for and instead has gone mostly sideways. I'll be keeping an eye on this one to see where it heads into next week. As always,
Stay safe and stick with your plan.
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