See daily chart of CADJPY below for the discussion that follows.
CADJPY is currently sitting at an important support level. Friday’s candle was also a hammer, which combined with the support suggests that a bounce might be coming. I will be going long next week if I can get in around the price it’s currently trading.
GBPNZD (last week’s post) never met my entry criteria so I didn’t get involved.
Remember to always have your own trading plan in place and never follow other people blindly. Risk management is very important. Always know where you will be proven wrong on any given trade and have stops in place. Honor those stops and never ever bet the farm.
On Ideas: Don’t take this as trading advise. Please do your own due diligence before entering any trade. Also see Disclaimers.
Thanks for reading.
Thanks and Regards,
Trading SOS SOS