Bullish Pennant on CAD/JPY @ D1
The bullish pennant on the daily chart of CAD/JPY can be used for trading an upside breakout. The pennant and its pole are marked with the yellow lines. My potential entry level is a the cyan line. My potential take-profit level is at the green line. I will set the stop-loss to the low of the breakout candle (not shown).
Trade active
Buy opened @ 84.654 today at 13:44 UTC, SL=84.262, current TP=86.412.Trade closed: stop reached
SL @ 84.262 triggered today at 01:00 UTC.
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You can find useful tools to detect, build, and trade chart patterns - all completely free on earnforex.com.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.