My idea for CADJPY
Short Term Long - We are in a Bullish channel and we now see a Bull Flag within this channel on 1H. So I am long with TP at 90.70 & SL at 89.950.
Midterm Short - This will then hit the upper side of a much larger channel seen on the 1D. I expect the bears to take over as the RSI on the W is 77 & 68 on the 1D.
I have a Sell Limit at 90.6 with SL: 91.22 & TP 84.4 (This is 0.382 of the weekly Fib). I will add positions on the highs as we go down.
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Short Term Long - We are in a Bullish channel and we now see a Bull Flag within this channel on 1H. So I am long with TP at 90.70 & SL at 89.950.
Midterm Short - This will then hit the upper side of a much larger channel seen on the 1D. I expect the bears to take over as the RSI on the W is 77 & 68 on the 1D.
I have a Sell Limit at 90.6 with SL: 91.22 & TP 84.4 (This is 0.382 of the weekly Fib). I will add positions on the highs as we go down.
Share the love if you like this idea.