Hi Friends, I hope you made some pips today? Well.the Forex Mechanics are happy we made quit a lot. We took out 50 pips from EURusd .But we announce it now.
Now let us do our chart analysis for today. We are going to analyze CADjpy on daily T.F
We are already in this trade and we are going to remain in it we will remain until it hits the first T.P which is 96.054 which is 126 pips from where we entered. we like to enter at the beginning of a trend after careful analysis. Any time we see a bullish hammer against the trend we start watching our indicator for confirmation along the opposite trend. This pattern is not restricted to daily T.F. The Forex Mechanics trade this on 1hr, 4hr, Daily, weekly and Monthly T.F
You will also see that the price broke 94.663 resistance level, pull back to it and continued so we have double assurance. Just like we did on GBPusd yesterday. So we T.P at the next level of resistance. If it breaks that resistance the price will get to 99.220. So this is a great opportunity. to move with the trend and make some nice profit.
Goodluck
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