Bearish engulfing pattern on a downtrend line for CADJPY.
Last week, JPY has been one of the weakest currencies, while CAD has been one of the strongest. In terms of market action, I normally would wait for a confirmation, since buyers have been very strong.
The opportunity offered by the risk to reward ratio (up to 1:10!) that we can get, leads me to take this trade on the bearish engulfing pattern on the key-level, without waiting for a second confirmation.
I'm planning to take part of the profits on each potential level of support highlighted by the pink rectangles.
Good luck!
Last week, JPY has been one of the weakest currencies, while CAD has been one of the strongest. In terms of market action, I normally would wait for a confirmation, since buyers have been very strong.
The opportunity offered by the risk to reward ratio (up to 1:10!) that we can get, leads me to take this trade on the bearish engulfing pattern on the key-level, without waiting for a second confirmation.
I'm planning to take part of the profits on each potential level of support highlighted by the pink rectangles.
Good luck!
İşlem kapandı: durdurma seviyesi
Unfortunaly, the market continued to trend up. It was worth a try with this amazing risk to reward ratio.
Find out more at itstradingtime.com/
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Find out more at itstradingtime.com/
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.