CADJPY H4 LOOKOUT
Looking for a possible rejection on the trendline upwards towards the resistance area. There are 2 scenarios Either it breaks support A and it will keep on dropping to the other support or you could see the 2nd scenario by the price breaking resistance A and carry on going higher until rejection. At the moment CADJPY is BULLISH and it it is seen on the H4 and D1 and W1 charts if the price breaks resistance the pair will still be bullish or if it hits support then we will need to find confirmation for the trend if its a fake or a Bearish trend. At the the moment price is ok for scalping between and to take profits with a small stop loss but I will let you know. I will be going in with sells till price hits the support trendline and will close 50% and set SL to close with profits so we will be safe to take profit if it breaks the support level the will close the trade with more profit if this trade goes tits up we will then close with less loss meaning small SL and will recover loss hopefully. NOTE 📝 PLEASE USE PROPPER RISK MANAGEMENT 🙏
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