CADJPY - Trend-Following Setup ↗️

Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

CADJPY is has been overall bullish trading inside the fat rising red wedge, and this week we rejected the upper bound. As we approach the lower red trendline, we will be looking for buy setups on lower timeframes.

Moreover, the green zone is a strong support.

🏹 So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the green support and lower red trendline. (acting as non-horizontal support)

As per my trading style:
As CADJPY is sitting around the purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich