CADJPY Long trade scenario

May 18, 2020

Analysis :

• Price Inside long term symmetrical triangle ,
  
• Price bounced twice on the lower bound of a short term range,
  
• Price break above the short term range,
  
• The breakout was followed with huge volume
  

Scenarios:

Buy :

• Wait For breakout confirmation,
  
• Wait for the price to bounce on the upper bound of a short term range,
  
• Wait for the rejection candle pattern to form e.g. bullish engulfing , pinbar , Inside bar etc,
  
• Initiate BUY order,
  
• Targets are TP1 to TP3,
  
• SL Under the lower bound of the short term range.
  

/!\** Disclaimer**/!\
The scenarios described in this analysis are subject to change at any time without prior notification. This analysis is provided as a decision support.

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