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Cadjpysetup

CADJPY approaching resistance, look out for potential reversal!CADJPY is approaching its resistance at 81.773 where it is could reverse down to its support at 81.085. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Short
by Pepperstone
CAD/JPY SETUP Sell & BuyChart is an expectation of market setup via harmonics. Also good to observe that market formed a double top between A and C which is considered a sell signal. Market already selling from/on target C. You can join the sell to D as there still money to be made. There may be some retracement up before market gets to D. This will be good for entry to D; * Chose your entry point wisely via indicators, etc. * Note - Sell TP2 at target D in pattern. If market hits target D then; * buy breakout to upside. * Note - TP1 on buy = TP1 on sell Considerations on where to collect profit; * Pattern completion can sometimes be annulled after TP1 of sell from target C. * Pattern D breakout can sometimes finish its run at TP1. DISCLAIMER; Trading carries risks, ideas are for guideline purposes only. Do set stop losses when trading & be generous with how much room allow for candle wicks. There is also the possibility to hedge yourself, for more confident traders. All comments and questions welcome, if curious about indicators I use then feel free to inquire. * Do check related ideas below for those I've guided.
by Dani0