Good morning traders, cadjpy has created an abcd pattern (ab leg equals cd leg) and is forming a descending triangle in H4 chart, we' d better to wait a breakout of the triangle before opening a sell trade . in that case the stop loss could be set over 77.45 and take profit at the beginning of c leg. Fundamentally this pair is correlated with investors mood because if markets are in risk-on mode the yen will become stronger, I think this could happen because of the fear of a second wave of COVID 19 and trade tensions between USA and China.
contact me to join my telegram channel where you will recieve free signals.
Enjoy your trading!
contact me to join my telegram channel where you will recieve free signals.
Enjoy your trading!