He Traders,
The CADJPY broke below the key demand zone, early London session yesterday, then made a retest back to zone (that could have a given a quick sniper entry for traders that checked this and saw it early.
However, i decided to wait for a more cleaner entry - meaning i am expecting a better retest (mitigation) of the previous support area then now using it as a resistance.
Now, the price is heading toward that zone, which also confluence with 50% Fibonacci level and 21-period EMA.
A limit order can be place at this zone and target the demand / OB below.
Always apply risk management
The CADJPY broke below the key demand zone, early London session yesterday, then made a retest back to zone (that could have a given a quick sniper entry for traders that checked this and saw it early.
However, i decided to wait for a more cleaner entry - meaning i am expecting a better retest (mitigation) of the previous support area then now using it as a resistance.
Now, the price is heading toward that zone, which also confluence with 50% Fibonacci level and 21-period EMA.
A limit order can be place at this zone and target the demand / OB below.
Always apply risk management
Note
TRADE GOT ACTICE AND ACHIEVED IN UNDER 4HRS - POWER OF NFP
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.
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.