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risky but good setup :)
Here's another risky but I 'feel' good setup.
CADJPY rose to a previous high and stalled for the past many hours, it is also within a rising wedge alike channel building downward movement since the high of 87.5 which was in mid of historical resistance zone. (87.26 - 87.6)
I didn't manage to catch the tip but entered at 87.4 which is still a ok risk level - providing my analysis is correct.
overall CADJPY is having a very strong bullish momentum built in the past few days so it's very risky to bid it down. If today the OIL price falls a bit and US news can tune DXY up a bit, this set up may well just be a perfect one that's why I'm willing to risk.
SL: above 87.6, mine is at 87.645
TP: below 86.85 -- can go lower if market supports it well with good impulse
GL
CADJPY rose to a previous high and stalled for the past many hours, it is also within a rising wedge alike channel building downward movement since the high of 87.5 which was in mid of historical resistance zone. (87.26 - 87.6)
I didn't manage to catch the tip but entered at 87.4 which is still a ok risk level - providing my analysis is correct.
overall CADJPY is having a very strong bullish momentum built in the past few days so it's very risky to bid it down. If today the OIL price falls a bit and US news can tune DXY up a bit, this set up may well just be a perfect one that's why I'm willing to risk.
SL: above 87.6, mine is at 87.645
TP: below 86.85 -- can go lower if market supports it well with good impulse
GL
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