CADJPY trade plan (Sell biased)

13 thg 12, 2022

Trading plan for Instrument
Taking Dow Theory , S&R, trendlines , chart patterns to develop trade plans

Bearish indications
Series of LH,LL
Horizontal and trendline resistance
Bearish flag formation
bearish divergence

Plan
If rejected from resistance level,
will sell with first target at lower support
if breaks lower support would be the
confirmation of bearish flag and set next target
at flag target
Entry: Good Bearish candle on rejection
Risk :2%
Tp1:99.5
Tp2: 93.14
Stop loss:103.5 (previous LH)

-----------------------------------------
Bullish indications
Double bottom like formation

Plan
if breaks the rectangle would buy
with targets at next resistance level
Entry: Upon breakout and a bullish candle for confirmation
Risk :2%
Tp1:103.5
Stop loss:99.4 (previous LH)