CADJPY has been in a nice downtrend.
On H4, Stochastic has dropped from Overbought zone. Also the current price seems to be at Role Reversal Resistance.
Thus I am looking for the Short trade.
However, on Hourly chart, Stochastic is already in Oversold zone.
So how about waiting for the next down cycle of Stochastic.
Thus the trigger is…
a) When the next down cycle of Stochastic begins…
b) If the price is at Lower High, or Double Top (No Higher High), then SHORT.
YJ Baik – Forex.Today @ Tokyo