CADJPY has been on an uptrend since March 19. On the M30 timeframe, there is a break of the support of the uptrending diagonal channel, as well as the horizontal and psychological support at 85.001. Thus, I am placing a sell limit at this level with the expectation that this level will hold upon retest. Stop loss is based on ATR x 2 while TP1 has the same number of pips by default. I canceled this setup because TP1 has been suddenly reached. You may want to enter on your own paramenters on pullback. The trade setup was supposed to be as follows:
Trade Setup: Trend Reversal
Price Entry 85.001
SL 85.351 | SL pips 35.0
TP1 84.651 | TP1 pips 35.0
RRR1 1.00
Trade Setup: Trend Reversal
Price Entry 85.001
SL 85.351 | SL pips 35.0
TP1 84.651 | TP1 pips 35.0
RRR1 1.00