CADJPY has been temporarily sleep-walking up out of a down trending channel through an up thrust. Some resistance rejected at 88.30. Smart pin. Expecting to return back in line revisiting the channel. Exaggerated Divergence (Bearish). TP1 - 86.50 TP1 - 85.50 Good loot management in play.
Trade ativo
Ordem cancelada
Post trade lesson: This didn't work out. There was a break out the channel (trend resistance) and then a bounce back down on the outside of the original planned channel which implies that is became new support. Good lessons. The breakout behaviour was a large bar (4h) and the natural retrace after the breakout out was back to the channel trend, but didn't touch (shows strength), with a very good looking candle with a large wick, is this a pin bar (1 oct 6am gmt)?
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