CADJPY - Bullish CrabAlert came in at around 4:35 pm (GMT +8) when I was having my tea break. The big long black bearish candle you see in the chart it's when it happens.
I know that I have until 6 pm to make my trading decision.
To trade or not to trade?
Should I engage in both pairs or should I choose 1?
That's how real trading can be. There's no need for you to guard your computer and wait for action on every tick.
Sadly for USDCAD, the Bearish Shark got activated, and not the Bullish Gartley(check the link within TradingView)
I have made my move on CADJPY. Why this pair and not another or both? Well, It might be too long of a post for that explanation. Allow me to keep it short by sharing only CADJPY.
It has an RSI Divergence, which has been marked by a black arrow within this chart. No doubt a long shadow candle happen that is not showing immediate strength in the bullish setup.
I see that the volume indicator on the side that gave me a 20pips leeway to place in my stop at entry when it happen.
Once I did that, there will be no downside for this trade, and that's great!
Judging the movement of the candle, I could expect a potential Head and Shoulder Bottom that can give me another buying opportunity at around 90.44.
When that happens, it could form above the "area of concern" , what I need to see is the market break and close above the "area of concern" .
It might be a clearer picture for you to decide to engage this trade when I share it(due to the formation of the candle)
Could you imagine that I engaged the trade at 90.13 and not 90.22 at the price you have seen!
It takes experience to read the chart and make the trade. Learn, Practice and get a Coach!
