MuhammadIqbalAman

CADJPY in Retracement Move

做多
OANDA:CADJPY   加元/日元
Bismillah

For the bigger timeframe, i would like to say that this pair is currently start moving up and uptrend will in surge. However, in the lower timeframe, which is TF H4, there is a valid signal that a minor retracement trend will be taken place. It can be clarified by price successfully breaking up the lower trendline of TF H4, and also close below the support of the latest support line.

So it is a hold for those who are trade this pair before take the decision of Buy. For me, it is simple. I will wait for the minor retracement exhaust and start back to buy whenever signal is popping up.

My signal entry is very easy and clear, which is i will instantly enter whenever Bullish Engulfing formation is being formed. Thank you
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