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CADJPY - After the nice double Plutus and the 95 pips, we have reached resistance. What now?

Easy, Plutus signals have been designed not only to catch reversals like the one you see on the chart after hitting Fib but also signal on potential trade when price exits a range.

The story of this chart is as follows:

  1. We were coming down until we hit a Fib area

  2. Did a few up and down waves and then a fake break on Fib 61.8

  3. Plutus produces two consecutive long signals PFBL (Plutus Fake Break Long) and WS (Wyckoff Spring)

  4. The rest is history 95 pips all the the way to Resistance level.

What now?

Simple , we are ranging and waiting for an Exit Signal - If price gets out of range with a Plutus Signal (Short or Long) we will follow.

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