The CADJPY is one of the currency pairs i will be trading this week. I have a good setup showing up here ...
1/ the trendline from the 1st of October 2018 crossing throu 15th of july 2019 and finally this 4th touch that has been tested.
b) i also observed another trendline passing from 22feb 19 then 11 april also touching throu the same 5th july 19 and another touch this day
2) from historical data and intense analysis of support and resistance, im seeing a very good level of resistance that was once a good support now turned resistance( the black rectangle highlighting the levels where the zone was respected profoundly.
#3Candlestick showing two doji candles and on friday we had a bearish engulfing candlestick with which i would love to make my confirmation.
##This is one of my best setups where i have a confluence of dynamic resistance and a traditional resistance....setup can fail but with this i fail in confidence. 80% of the time it works$$$
This trade is a 1: 1.4 R.R not really a good risk to reward ratio
1/ the trendline from the 1st of October 2018 crossing throu 15th of july 2019 and finally this 4th touch that has been tested.
b) i also observed another trendline passing from 22feb 19 then 11 april also touching throu the same 5th july 19 and another touch this day
2) from historical data and intense analysis of support and resistance, im seeing a very good level of resistance that was once a good support now turned resistance( the black rectangle highlighting the levels where the zone was respected profoundly.
#3Candlestick showing two doji candles and on friday we had a bearish engulfing candlestick with which i would love to make my confirmation.
##This is one of my best setups where i have a confluence of dynamic resistance and a traditional resistance....setup can fail but with this i fail in confidence. 80% of the time it works$$$
This trade is a 1: 1.4 R.R not really a good risk to reward ratio