CADJPY 4H
I have place a sell limit for the above currency pair hoping the price falling from 78.381 to 73.823 probably. Taking this position leads me to placement of trailing stop of 79.529. However, I made this decision due to the fact that at entry price position there is a key resistance level with tendency of excessive supply of CAD that might lead to downside of the market. Depending on your investment your might not necessarily hold the position up to the determined exit point. Or you can manually trail the stop. May Allah help us all!
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