CADJPY SKACAPITALCan expect a retracement up to 100.350-100.500 on the opening of the market then a continuation to the downside to targets of 99.900, 99.400 then 98.750.
Once each target has been hit PA must be analysed before keeping positions. However, on the opening of the market price can also continue to the downside without an retracement. We must wait for the opening session. (NOTE: If price breaks and closes above 100.500 price can reach 101.000 to give us a triple top.)
Once each target has been met, we must confirm price action before keeping positions. Can enter a half sell position on the opening of the market with a stop loss around 100.750 then look to add to the positon once PA is confirmed at the retracement level.
If Swing Trading stop losses should be around 100.750 (Safest 101.030) If day trading positions could be adjusted accordingly
