CADJPY - Updated Analysis!

Mar 13, 2020

Previously I have written about the same idea on this pair. You can check the idea in linked link below. Still the same pattern, Ascending Triangle. But on the previous idea, the triangle pattern failed, it actually broke the trendline line, so the price dropped and touched the nearest support line, then bounced and now forming a new Ascending Triangle pattern. If this pattern succeeds, at least would rise 300 pips , but if it fails again, then re-break the trendline, the price would fall back to the support line, and possibly would turn back up after touching the support line. So that it would form a new pattern, which is Rectangle. Rectangle is a neutral pattern.

Mar 13, 2020

Note

Resistance has broken. Waiting for a retest/pullback on the support (it was resistance) area before put long order.

Mar 13, 2020

Note

Wait. The volume of pullback/correction look quite strong. It has potential to touch back the trendline.

Mar 13, 2020

Trade active

Bought at 77.00
SL 74.60
TP 80.30

Mar 13, 2020

Trade closed manually

Closed Manually at 78.20. Profit 120 pips ✔️
Re-enter next week when price make some corrections.