See the daily chart of CADJPY below for the discussion that follows.
CADJPY broke an area of resistance this past week, and also out of a consolidation, suggesting that it might be resuming its prior uptrend. Should price retrace to support (previous resistance), I will likely go long if I see bullish candlestick price action.
Remember, always have your own trading plan and never follow other people blindly. Always know where you will be proven wrong on any trade and have stops in place. Stick to your stops and never bet the farm.
On Ideas: Please don’t take this as trading / financial advise. Please do your own due diligence before entering any trade. Also see Disclaimers.
