CADJPY Long Possible 5:1
Entry Reasoning:
-82.00 has had strong reactions (Support)
-We have two swing lows with bullish divergence
-We are approaching a bullish trendline (Support)
-We have a bullish bat pattern
Take Profit Reasoning:
-1.27 Extension of the bat pattern
-Strong resistance on the daily
Aggressive Buy - Put limit order at 82.02
Conservative Buy- Wait for orange trendline to break, then enter on pullback
Stop Loss- 10 Pips beyond the 1.13 of the bat pattern
-82.00 has had strong reactions (Support)
-We have two swing lows with bullish divergence
-We are approaching a bullish trendline (Support)
-We have a bullish bat pattern
Take Profit Reasoning:
-1.27 Extension of the bat pattern
-Strong resistance on the daily
Aggressive Buy - Put limit order at 82.02
Conservative Buy- Wait for orange trendline to break, then enter on pullback
Stop Loss- 10 Pips beyond the 1.13 of the bat pattern
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