How to spot a big move in Forex trade – CADJPY make or break

Daily chart of CADJPY

Inspecting long term chart patterns provides hint of CADJPY direction

Tips to spotting a BIG move in currency pairs:

  1. Chart Patterns that formed over a long duration of time, e.g. months
  2. Price moved out of multiple support/resistance

In the case of of CADJPY, this is a channel of 5 months, a potential Head and Shoulder of 2 months.

Support and resistance has been touched multiple times.

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