Cadjpy risky longs
Cadjpy has been in a long term uptrend, so we should be preparing for a distribution.
Nevertheless, this lends credence to a trend following approach being optimal.
A pullback to the previous high of the pair should signify a highly probable formation of a Higher Low to shoot for a continuation long.
Incidentally the pullback zone is also the 61.8%/50% fib level of the upmove.
The bullish break and retest of the LTF descending trend line and the LTF minor resistance should most probably start a bullish climb to equal highs at least.
Pls like and drop quick sub and COMMENT!.
Nevertheless, this lends credence to a trend following approach being optimal.
A pullback to the previous high of the pair should signify a highly probable formation of a Higher Low to shoot for a continuation long.
Incidentally the pullback zone is also the 61.8%/50% fib level of the upmove.
The bullish break and retest of the LTF descending trend line and the LTF minor resistance should most probably start a bullish climb to equal highs at least.
Pls like and drop quick sub and COMMENT!.
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