Symmetrical Triangle on CAD/JPY @ D1
This symmetrical triangle formation on the daily chart of CAD/JPY offers an opportunity for a sell trade in case of a bearish breakout. The triangle's borders are marked with the yellow lines. My potential entry point is marked with the cyan line. My take-profit level is shown with the green line. I will set the stop-loss level to the high of the breakout bar (not shown on the chart).
More information, chart template, and a free expert advisor to automatically trade this CAD/JPY pattern - on earnforex.com/blog/cadjpy-consolidates-in-symmetrical-triangle-on-daily-timeframe/
More information, chart template, and a free expert advisor to automatically trade this CAD/JPY pattern - on earnforex.com/blog/cadjpy-consolidates-in-symmetrical-triangle-on-daily-timeframe/
Trade active
Entered short @ 77.086 at 10:57 UTC. SL=78.630, TP=70.077.Trade closed: stop reached
The trade hit stop-loss today at 16:12 UTC.
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.
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.