Hello traders,
I wanna go in this new week strong, and I found this CADJPY possibilty to go long.
A little explenation:
1. On 4h timeframe we can see nice ressistance and suport lvls
2. On 4h timeframe we can see Elliot waves wich will be formed after correction
3. On 4h timeframe we can see fibonacci retracment lvl of 0.5 or 50% at the middle line, so this is double signal for bullish.
4. On 1D timeframe we can see Elliot corective waves and now its end phase of them so this also inducate to bullish.
Entry: you can entru in few area
1. after broking middle line
2. after broking middle line and nice candllestick confiramtion
3. after broking highest line
Take profit:
TP 1 at lowest orange line
TP 2 at middle orange line
TP 3 at higest orange line
Stop loss:
SL at little under longest ranging wick
You can also watch video about that on my profil.
Like, comment your thoughts
I wanna go in this new week strong, and I found this CADJPY possibilty to go long.
A little explenation:
1. On 4h timeframe we can see nice ressistance and suport lvls
2. On 4h timeframe we can see Elliot waves wich will be formed after correction
3. On 4h timeframe we can see fibonacci retracment lvl of 0.5 or 50% at the middle line, so this is double signal for bullish.
4. On 1D timeframe we can see Elliot corective waves and now its end phase of them so this also inducate to bullish.
Entry: you can entru in few area
1. after broking middle line
2. after broking middle line and nice candllestick confiramtion
3. after broking highest line
Take profit:
TP 1 at lowest orange line
TP 2 at middle orange line
TP 3 at higest orange line
Stop loss:
SL at little under longest ranging wick
You can also watch video about that on my profil.
Like, comment your thoughts