I’m long CAD/JPY with a R/R over 10

2022년 8월 20일

- As a swing trader i do my analysis on the daily time frame and my entry on the 15 minutes chart .
- I draw my support and resistances on a two daily body candlestick minimum ( as shown above )
- My analysis go through 3 steps which are technical analysis, economic calendar release and inter market relationships .

For CAD / JPY
1. technical analysis : wait for a pull back and then ride the bullish trend until the resistance of 107.330
2. Economic calendar release : no economic release next week which could affect our trade.
3. Inter market relationship : oil is still on a bearish trend BUT we bounced back from the resistance of 85.000 . Plus , the volumes are decreasing since the start of august which is telling us the downtrend has less and less power . ( bullish for oil so bullish for CAD )

My strategy is simple because the simpler it is , the easier it is to follow it with discipline.
And discipline is what make you rich in trading .
Have a wonderful day .