CADJPY BEARISH THU 6 Jul 2023 (education)
The price is ranging structure in monthly and daily timeframes
the price hits the upper range and reject with engulfing candles at the supply zone in daily timeframes
The set up is simple.
Engulfing breakout of range at the supply zone after price been ranging for a while.
The risk reward ratio is 5
the stoploss level is above supply zone
the target is the double bottom that cause price go went up
I risk 0.10% of entire portfolio on this trade.
the price hits the upper range and reject with engulfing candles at the supply zone in daily timeframes
The set up is simple.
Engulfing breakout of range at the supply zone after price been ranging for a while.
The risk reward ratio is 5
the stoploss level is above supply zone
the target is the double bottom that cause price go went up
I risk 0.10% of entire portfolio on this trade.