Amazing risk reward CADJPY buy setup is forming. We have a bullish convergence on the Weekly chart also on the daily chart we have a similar bullish divergence so now we will be waiting for the correction to happen and will look for buys.
CADJPY Weekly Chart:
CADJPY Daily Chart:
On the D1 chart we have a flag/range correction phase at the moment and I am expecting a continuation up. Look for a false break of the alternative down trend line and go long. This setup offers an amazing risk reward ratio of 1:10.
Stop Loss: Below the last low to be created.
Target 1 : Risk Reward 1:2
Target 2: 94.00
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