ABCD PATTERN + DESCENDING TRIANGLE

Good morning traders, cadjpy has created an abcd pattern (ab leg equals cd leg) and is forming a descending triangle in H4 chart, we' d better to wait a breakout of the triangle before opening a sell trade . in that case the stop loss could be set over 77.45 and take profit at the beginning of c leg. Fundamentally this pair is correlated with investors mood because if markets are in risk-on mode the yen will become stronger, I think this could happen because of the fear of a second wave of COVID 19 and trade tensions between USA and China.
contact me to join my telegram channel where you will recieve free signals.
Enjoy your trading!