So here is a institutional view on CAD/JPY
The red lines show what retail traders work with (support&resistance) and head and shoulder pattern shown here!
The blue lines show where the liquidity is for the institutions to move the market and where the market will finish.
The institutions will take liquidity from the retail sells and buys force the stops and stop loss to be activated then move to old highs (84.00) where they will leave the marlet.
Id advise as this is a new strategy for myself to watch this play out do your analysis and learn.
My entry price would be set at 80.00 and TP 84 that would be 400 PIPS profit
The red lines show what retail traders work with (support&resistance) and head and shoulder pattern shown here!
The blue lines show where the liquidity is for the institutions to move the market and where the market will finish.
The institutions will take liquidity from the retail sells and buys force the stops and stop loss to be activated then move to old highs (84.00) where they will leave the marlet.
Id advise as this is a new strategy for myself to watch this play out do your analysis and learn.
My entry price would be set at 80.00 and TP 84 that would be 400 PIPS profit