CAD/JPY Price Forecast 1st October 2024

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CADJPY Price Forecast 1st October 2024

Strategy: 3/12 Tunnel

The 3/12 Tunnel is a trend-based strategy. This strategy is quite simple, and we have built it using 3 moving averages. Our team has done extensive backtesting on it, and its winning ratio is between 70% to 80%.

Recommended Timeframe

You can use this strategy on H1, H4, and Daily timeframes. It can also be used on lower timeframes than H1, but we suggest that if you want better results, use it on H1, H4, and Daily timeframes.

Trade Details

Currently, based on this strategy, we have a trade opportunity on the CADJPY pair on the H1 timeframe. I have already shared the trade image with you. You should place a Sell Stop at 105.885, with SL: 106.860, TP 1: 105.465, TP 2: 105.190, and TP 3: 104.910.

Pair: CAD/JPY
Timeframe: H1
Sell Stop: 105.885
Stoploss: 106.860
TP 1: 105.465
TP 2: 105.190
TP 3: 104.910

Lot Size

For anyone taking this trade, you should risk no more than 2% of your account, and not exceed this. For example, if you have a $10,000 account, you should risk $200.

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Tim Morris

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