Ichimoku CADJPY Currency 240m: Long Term Entry Setup

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.

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About the Author Manesh Patel