CADJPY 4H PIN BAR (Bearish )
CADJPY 4H PIN BAR
After 30 mins the 4h candle is going to be closed.
If we saw a long pin bar like this
we can sell right at the next candle's opening price
Basically It just tells us 89.20-89.30 has
very strong sellers.
SL above the Pin.
Target: Twice of your Risk ( Entry - SL)
Eg. if Entry at 88.95, SL 89.40
your risk is 35 pips
therefore your profit target should be about 70 pips.
Trade with Care.
Remarks: if strong bullish candle break 89.40
then the set up is invalid.
After 30 mins the 4h candle is going to be closed.
If we saw a long pin bar like this
we can sell right at the next candle's opening price
Basically It just tells us 89.20-89.30 has
very strong sellers.
SL above the Pin.
Target: Twice of your Risk ( Entry - SL)
Eg. if Entry at 88.95, SL 89.40
your risk is 35 pips
therefore your profit target should be about 70 pips.
Trade with Care.
Remarks: if strong bullish candle break 89.40
then the set up is invalid.
price went down 30 pips