CADJPY: Selling Opportunity at 80.000 Resistance
We could open long positions using a reversal from 78.950 support zone and a breakout signal above the local downtrend line. If you did not use that trading opportunity, now it is better to think about shorting.
The trading idea is based on a reversal signal or a false breakout signals at 80.000 resistance. Stop orders must be placed above the local swing high. Profit targets for short trade should be 79.500 and 78.950 support.
Risk per trade must be 1-2% from the capital.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
The trading idea is based on a reversal signal or a false breakout signals at 80.000 resistance. Stop orders must be placed above the local swing high. Profit targets for short trade should be 79.500 and 78.950 support.
Risk per trade must be 1-2% from the capital.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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