The CADJPY Currency typically goes up “seasonally” around this time of the year. However, this does not mean the pattern will be repeated this year at all. It indicates there is a high probability of repeating but not 100% for sure it will happen.
We are going to look at the 240 minute chart of CADJPY to setup for a bullish entry position which we will eventually move it to the daily timeframe for a very long term trade. We are entering on the 240 minute to keep our risk low at this time. The daily and the weekly are both bullish according to the Ichimoku indicators.
Below is the chart setup.
For EDUCATIONAL USE. Commodity Futures Trading Comission, Forex, Futures, Equity and options trading has large potential rewards, but also large potential risk and may not be suitable for everyone. You must be aware of the risks and be willing to accept them in order to invest in these markets. Do not trade with money you can not afford to lose. This is neither a solicitation nor an offer to Buy/Sell. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this document. The past performance of any trading system or methodology is not necessarily indicative of future results. All information provide d on the Blog is for educational purpose
