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CADJPY Trade Setup (Dec 24)

Profile photo of YJ Baik - Forex.Today by YJ Baik - Forex.Today
2015-12-24_15-57-29-CJ2

Dear Traders,

CADJPY has been in a nice downtrend.

On H4, Stochastic has dropped from Overbought zone.  Also the current price seems to be at Role Reversal Resistance.

Thus I am looking for the Short trade.

2015-12-24_15-55-36-CJ1

However, on Hourly chart, Stochastic is already in Oversold zone.

So how about waiting for the next down cycle of Stochastic.

2015-12-24_15-57-29-CJ2

Thus the trigger is…

a) When the next down cycle of Stochastic begins…
b) If the price is at Lower High, or Double Top (No Higher High), then  SHORT.

 

Merry Christmas.

 

YJ Baik – Forex.Today @ Tokyo

 

 

 

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