Kijun Bounce: Long CADJPY (H1)
Updated
Daily chart: Bullish
H4 Chart: Bullish
H1 Chart:
1) Price > Kumo and Kijun
2) Doji candle formed just above Kijun (I would prefer a doji with long wicks, though)
3) Buy stop order a few pips above the high of the doji
4) Stop loss a few pips below the low of the doji or nearest fractal
5) Take profit at the recent swing high or when candle closes below the Kijun
H4 Chart: Bullish
H1 Chart:
1) Price > Kumo and Kijun
2) Doji candle formed just above Kijun (I would prefer a doji with long wicks, though)
3) Buy stop order a few pips above the high of the doji
4) Stop loss a few pips below the low of the doji or nearest fractal
5) Take profit at the recent swing high or when candle closes below the Kijun
Trade closed: stop reached
Hit SL.
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