Potential short setup on CADJPY as we approach 81.6 key resistance 7:1 reward risk ratio. Would be nice to see a rejection of this level which will validate the opportunity down to my target of .79 Sometimes it does not make sense to wait for confirmation as you would have to enter the trade at a lower price thus decreasing the RR ratio. We may just break...
Need to see how the market opens tomorrow before taking any positions as the jxy is at a key resistance level which is a possible cause for concern going short on this pair. If we can see some bearish momentum come in however this oppertunity has a great risk reward ratio
Potential setup forming on USDCHF - macd divergence and all timeframes pointing to more downside. Target is the next daily swing low of the last wave Will not be entering the trade at this price until the market has settled from opening last week as i think the dollar could follow a deeper retracement/pullback after the sharp drop from last week.