CADJPY: Buy Signal from Support Zone
Aktualisiert
The price bounced from the support zone formed by SMA200 and the support level. RSI confirmed the price reversal. The same goes for MACD histogram. It gives us a possible buying opportunity in the direction of the main bullish trend.
Here is an example of a long trade:
Buy above 80.150
Stop below 79.800
Take Profit at 81.450
Risk per trade must be no more than 2% of the capital. If the price moves in the direction of the trade, it will be possible to use a trailing stop.
The breakout below SMA200 and the local swing low will allow us to open short trades.
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.
Here is an example of a long trade:
Buy above 80.150
Stop below 79.800
Take Profit at 81.450
Risk per trade must be no more than 2% of the capital. If the price moves in the direction of the trade, it will be possible to use a trailing stop.
The breakout below SMA200 and the local swing low will allow us to open short trades.
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.
Anmerkung
We should fix the part of profit and move stop orders to the breakeven.
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