MateyeFX

Going long on CADJPY after 61.8 retracement!!

MateyeFX Updated   
FX:CADJPY   Canadian Dollar / Japanese Yen
Price broke out of a downward channel on H4 on the 2nd of May so the price is most likely gonna continue pushing higher and higher till 84.200

Buy Limit order at 82.870, SL=82.72 and TP=83.80
-61.8 retracement to a base price area (Grey rectangle around 61.8 retracement)
-RSI heading towards oversold
-Broadening triangle
-Upward trendline most likely to hold

Risk to Reward looking so good.
15:93 (1 : 6.11)

Trade with care. Good luck.
Comment:
SL hit
Price closed below our bullish trendline and continued to push down till our 15 pips stop loss.

Unlucky!!! Looking forward to the idea. :)
Good Luck.
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.