CadJpy coming close to 618 retracement, extremely oversold.
There's not a great deal of analysis behind this trade, it's coming from a sort of double bottom, it's approximating the 0.618 retracement and it's way oversold in h1 and entering oversold territory on h4.
Even if we merely get a dead cat bounce there, we should have time to move stops to breackeven. I've never seen a price not bounce even a little with an RSI below 13.
Targets: the yellow trendline and then let it ride free..
Even if we merely get a dead cat bounce there, we should have time to move stops to breackeven. I've never seen a price not bounce even a little with an RSI below 13.
Targets: the yellow trendline and then let it ride free..
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This trendline is another great entry oportunity:
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Broke the trendline and came back, pullback to continue fall or rejection off the zone?