Deep Retracement - CAD/JPY Intraday setup
Momentum precedes prices.
Yesterday the CAD/JPY broke down sharply below key structural points. The discounting in price (Retracement) was very deep and slow.
Now, based on the reappearance of the 4th structure (Blue Dots) which to us indicated that we can now look for a sell setup. We executed a sell using the WT Candle plus break of the London session market side (Vwap).
Potential target is 111.36
Stop Loss is 112.00
Yesterday the CAD/JPY broke down sharply below key structural points. The discounting in price (Retracement) was very deep and slow.
Now, based on the reappearance of the 4th structure (Blue Dots) which to us indicated that we can now look for a sell setup. We executed a sell using the WT Candle plus break of the London session market side (Vwap).
Potential target is 111.36
Stop Loss is 112.00