i want to share one of my today's favorite setups, which is on CADJPY . The chart explains everything but basically i've found several clues that all point in the same direction, namely long.
It's important you know i don't even start building a case for entry without structure; here we have higher timeframe structure and trading timeframe structure at the same level, that happens to be also a psychological number.
Besides, there's a completing right at that level and a pattern already completed.
With all those reasons together i know i want to be on the long side of the market. But i'm waiting an additional and definitive clue in price action that can trigger my order, being a formation or a .
If you are a pattern trader you can take this as a simple , i think this is a very good place to buy.
If you want to share your standpoint or even ask questions, feel free to comment below.
Otherwise, see you in the next chart!