Buying CADJPY at the strong 87.40 support

Dec 19, 2016

CADJPY has been on an uptrend and showed a strong correction over the past few days. It just hit a strong support while creating a small M30 bat pattern.

I will wait for a M15 divergence to take a long position on this pair.

Dec 20, 2016

Trade closed: stop reached

This trade broke the 87.40 support very quickly. I exited with a 20 pip loss.