Thursday, 10 July 2014

CAD/JPY Analysis

Bullish pinbar candle formed on the daily timeframe. Trend is up. Bounce near 9455 support. Moving averages still crossed over but on the negative side no longer diverging. In terms of a Elliott Wave perspective, this is the 5th wave up after the 4th wave retraced 38.2%. I believe this still has some legs some putting in a order to go LONG STOP: 9459 ENTRY: 9503 (50% retrace of the pinbar candle) LIMIT: 9679 RISK/REWARD: 4/1
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1 comment:

  1. Tee Man12 July 2014 at 10:25

    Was stopped out of this. bad Canadian jobs data report

    ReplyDelete

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