CADJPY short w/ multiple take profits
CADJPY has reached a supply zone where it found resistance previously. From here we got a decisive push away from the zone and a return back to the demand area.
Now that we're are back in the same place and we are starting to see buying pressure lose volume, we can predict the same move may happen again.
We entered the zone, price broke away sharply then made a retest of the zone that was unable to reach equal highs or create new highs indicating a reverse in structure may be coming & sellers are increasing pressure at this level.
From here we are looking to take our first take profit at recent lows, which from our entry clears our 50 pip minimum as a team as well as our 3:1 risk to reward ratio.
Full return to demand is about 300 pips
There are 2 other levels in between to take profit at
Use correct risk management & trade lots according to your lot size not your belief in yourself!
#WakeUpInProfit
CADJPY has reached a supply zone where it found resistance previously. From here we got a decisive push away from the zone and a return back to the demand area.
Now that we're are back in the same place and we are starting to see buying pressure lose volume, we can predict the same move may happen again.
We entered the zone, price broke away sharply then made a retest of the zone that was unable to reach equal highs or create new highs indicating a reverse in structure may be coming & sellers are increasing pressure at this level.
From here we are looking to take our first take profit at recent lows, which from our entry clears our 50 pip minimum as a team as well as our 3:1 risk to reward ratio.
Full return to demand is about 300 pips
There are 2 other levels in between to take profit at
Use correct risk management & trade lots according to your lot size not your belief in yourself!
#WakeUpInProfit