CadJpy coming close to 618 retracement, extremely oversold.

There's not a great deal of analysis behind this trade, it's coming from a sort of double bottom, it's approximating the 0.618 retracement and it's way oversold in h1 and entering oversold territory on h4.

Even if we merely get a dead cat bounce there, we should have time to move stops to breackeven. I've never seen a price not bounce even a little with an RSI below 13.

Targets: the yellow trendline and then let it ride free..

Kommentar:

This trendline is another great entry oportunity:

Kommentar:

Kommentar:

Broke the trendline and came back, pullback to continue fall or rejection off the zone?