🔸Hello guys, let's review the 8 hour chart for CADJPY today. We got clean swings recently
and right now expecting new swing high based on the extension of the prior swing.
127 extension near 102.00 expecting a reversal / price will max out
🔸The recent swings in CADJPY are almost 500 pips wide, so this makes this pair great
for position traders. Currently risk/reward shifting in bears favor as we are overextended.
🔸Recommended strategy for CADJPY position traders / swing traders. Bears focus on short selling
high near premium prices close to 102.00. TP1 bears is +300 pips TP2 bears is +400 pips.
Short-term expecting more gains before price hits resistance / maxed out near 102.00 to
complete the swing extension (127 ext).
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