CADJPY: Possible Pullback Near Potential Resistance #forex
I just shorted the pair on the confluence of 50 percent retracement level for a major bearish wave and 1.1618 extension for the latest bearish wave as outlined on chart. In addition to 99.00 horizontal resistance level (previous swing high). The price formed a pin bar at that resistance area, while RSI is showing bearish divergence as well.
Lets hope the timing is right.
Good luck
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My best regards
Technician
Trading Criteria:
1.Trades are taken in two units
2.First unit would be closed at first target
3.Stop loss is then moved to break-even
4.Second unit would be closed at second target
Notes:
5) If 90 percent of first target is reached without triggering entry I cancel the trade
6) If 90 percent of first target is reached I move stop loss to breakeven.
7) Remember: Losing is a main part of the game
Lets hope the timing is right.
Good luck
Exclusively Subscribers to my mailing list will get one month access to my trading account . subscribe here thefxchannel.com/ ,
My best regards
Technician
Trading Criteria:
1.Trades are taken in two units
2.First unit would be closed at first target
3.Stop loss is then moved to break-even
4.Second unit would be closed at second target
Notes:
5) If 90 percent of first target is reached without triggering entry I cancel the trade
6) If 90 percent of first target is reached I move stop loss to breakeven.
7) Remember: Losing is a main part of the game