CADJPY - SHORT
Why are we entering?
- Price broke the ascending trendline = bearish
- Expecting further CAD weakness & JPY strength = CADJPY SHORT
What are we waiting for to happen?
- Waiting for the next pullback so we can draw WFB
What is our confirmation?
- rejection of structure and EMA
- Waiting to draw WFB
Entry
Safe Entry: Rejection of structure and EMA and then WFB once correction appears
Risk Entry 1: Rejection of structure and EMA
Once entered, where will our Stoploss be?
- above the rejected price (ideally above EMA )
Where do we take profits?
- First TP: 88
- Second TP: 86
Why are we entering?
- Price broke the ascending trendline = bearish
- Expecting further CAD weakness & JPY strength = CADJPY SHORT
What are we waiting for to happen?
- Waiting for the next pullback so we can draw WFB
What is our confirmation?
- rejection of structure and EMA
- Waiting to draw WFB
Entry
Safe Entry: Rejection of structure and EMA and then WFB once correction appears
Risk Entry 1: Rejection of structure and EMA
Once entered, where will our Stoploss be?
- above the rejected price (ideally above EMA )
Where do we take profits?
- First TP: 88
- Second TP: 86