Trade Setup: CAD/JPY – 23 Sep 2016

22 Sep 2016
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23-sep-2016-cadjpy

Candle Stick Pattern: Bullish Engulfing at (1)
Confirmation:

  • Touched outer band of Bollinger Band at (1).
  • Stochastic oversold range at (2).
  • Retesting previous support levels.

Signal: BUY
Entry Point: 77.20
SL: 76.11 (109 pips) (Lowest of the two candles of engulfing)
TP: 79.89 (269 pips) (Nearest resistance level)

[UPDATE 1 – 26 Sep, 2016]

23-sep-2016-cadjpy-cont

Trade closed on SL.

 

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