See daily chart of EURJPY below for the discussion that follows.
EURJPY is currently sitting at support (previous resistance). If I get confirmation in terms of candlesticks I will be looking to go long here.
CADJPY (post from last week) never gave me an entry candle / signal on the daily so I never entered. If you look at the 4 hour chart you’ll see a pin bar / hammer formed early in the week. That’s a good example of multiple timeframe trading – strong support on higher timeframe, then looking for a signal on a lower timeframe.
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 advise. Please do your own due diligence before entering any trade. Also see Disclaimers.
Thanks for reading.
Thanks and Regards,
Trading SOS SOS