After breaking the long/midterm downtrend (2015-2017) , an CADJPY is forming an inverse H&S. Today we have reached ist neckline - this is the Level to watch! What to do with such a pattern? Ideas: Procyclical Breakout Longszenario: Stopbuy near above the neckline with TP1: 4 / TP2: parity/102 and a stopp perhaps at the 38,2 fibo at 85,7 Anticyclical Short: Sell the actual level with a stopp near above the neckline - tp could be the38,2 fibo @ 85,7
Watch the RSI! The likelihood for a tiny consolidation at the present niveau should be planned before the main move is coming :) cheers and good luck
Catatan
rsi is short before a buying signal the ema 200 could be a nice entry ?
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