CADJPY + USOIL DAILY SWING BUY - PENDING
Both CADJPY and USOIL have daily and weekly time frame directional bias. Exercise caution due to weekly resistance, which has already been tapped once, entry on a break of resistance and retest would be a better entry.
I will likely enter on CADJPY and not USOIL, but set up is valid on both
Weekly resistance on USOIL could give the entry on the daily time frame, caution needs to be exercised as last time price rejected from the resistance level the pullback was hard.
Driver of OIL is vaccine rollout, rejection from the weekly resistance on a change of the narrative would make this trade less appealing for me.
I will likely enter on CADJPY and not USOIL, but set up is valid on both
Weekly resistance on USOIL could give the entry on the daily time frame, caution needs to be exercised as last time price rejected from the resistance level the pullback was hard.
Driver of OIL is vaccine rollout, rejection from the weekly resistance on a change of the narrative would make this trade less appealing for me.
Trade active
entry triggered o 23/3/21 entry 0.03 at 86.49
Took profits 0.02 off the table at 87.92 $33.77
still have 0.01 runner with stop and BE
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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.