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CAD JPY 64 PIPS - NEVER MONITOR YOUR TRADE!

This trade took advantage of the Double Top Signal on the 4 Hour Chart that told us that the pair was going to be headed lower over the next 24 Hours. It also appeared to be forming a Consolidation Setup, based on the nature of the previous Uptrend and the sudden and aggressive Trend Change Signal in the form of these Double Tops.
Below you can see an example of the waves that generally indicate that a Consolidation is being formed. These will either lead to the formation of a Pennant or a Range…
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162 PIP TRADE AS NZD CAD HEADED BACK TO SUPPORT

This trade was another Consolidation Setup where the pair gave a Double Top Formation to complete the Resistance Boundary and start a Bearish Move. This would lead to a break of the Uptrend Line to confirm the start of the move down to Support.
DAILY CHART
To take advantage of this, I then went down to the 4H Chart. I spotted the downtrend line formed as well as the High of Resistance of an Evening Star Bearish Signal and used that area for my Stop Loss. These 2 on their own are good Stop Loss a…
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