CADJPY: POSSIBLE ENDING DIAGONAL - Short From Here (Retrace)
Hey traders! After a bearish impulse witnessed 9/20, we saw a correction to the .786 fib. This correction has ended on an ending diagonal, a quintessential reversal pattern. The target is 75.8. Any price movement above recent high will force me out and I will re-evaluate. Otherwise, ride it down. Happy Trading!
Trade active
In order to find precise entries like this, here's what it looks like INSIDE the candle. 1m Chart:Note
Beautiful Resistance!! Stop set to B/E:Trade closed manually
Closed at breakeven! Another great thing about tight stops is the adjustment to breakeven is so small that it can be done after the next lower-degree impulse wave completes and your risk goes to zero.Here's the next level to watch:
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RE-ENTRY:
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.