CADJPY Updates and Follow Up
H1 - We got the breakout below the 86.75. Price testing the resistance zone.
We can look for shorts using the double TL principle as long as this high is holding.
M15 - We have two trend lines on M15.
Aggressive entry would be with the break of the TL (M15).
Conservative entry would be with the break of most recent low + trend line(M15)
NOTE - Keep in mind that based on the intraday cycles, we might see a test of the 87.70 zone
Invalidation - if price breaks above the resistance zone.
We can look for shorts using the double TL principle as long as this high is holding.
M15 - We have two trend lines on M15.
Aggressive entry would be with the break of the TL (M15).
Conservative entry would be with the break of most recent low + trend line(M15)
NOTE - Keep in mind that based on the intraday cycles, we might see a test of the 87.70 zone
Invalidation - if price breaks above the resistance zone.