This recent trade provided a 1.18% Rate of Return in just over 16 Hours, as I traded the Strong Double Tops and Pennant Breakout Patterns down to the major Support of 81.90 on its 4 Hour Chart.
Main Technical Factors of this trade –
1. The Candles that form both Peaks of the Double Tops must be strong.
2. The Neckline of the Double Tops must be broken convincingly to start or continue the Downtrend.
3. The Neckline was broken with a Breakout from a Pennant Consolidation.
4. Entry took place using the Bearish Engulfing Candlestick Formation that started the Breakout from the Pennant.
5. Stop Loss was placed above the Downtrend Line of the 1 Hour Chart.
VIDEO HIGHLIGHT OF THE CAD JPY TRADE SETUP AND RESULT
1 HOUR & 4 HOUR CHART TRADE FORECAST
4 HOUR CHART TRADE RESULT
Once you know the Main Technical Factors that control the behaviour of the Forex Market each week, you’ll be able to accurately predict market direction and take advantage of profitable setups for Strong Trading Gains!
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(M.Sc. Economics, B.Sc. Management and Economics)
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