✨ CADJPY: ITF CURVE ANALYSIS (10H) ✨ (DOWNTREND)

If my analysis is correct, we have a potential of another wonderful trade on our hands. The R:R (when position sizing correctly) will be a whopping 73:1! Details below:

SLO2 @ 112.26 ⏳
SSO1 @ 111.05 ⏳ (set after SLO triggers & is green)
TP1 @ 106.201
TP2 @ 101.063
TP3 @ 97.697

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ITF = INTERMEDIATE TIME FRAME
SLO = SELL LIMIT ORDER
SSO = SELL STOP ORDER
TP = TAKE PROFIT

Intermediate time frames (4 hours to 6 day):

— Offer a clearer picture of the underlying trend compared to short-term frames.
— Provide more opportunities for confirmation signals and technical analysis.
— Allow for more flexible trading schedules, trades can be held overnight.
— Suitable for swing traders and some positional traders.