EURCAD and AUDJPY Swing Trading

Two trades that are part of my swing trading strategy. Wait for a main trend to develop and then look for opportunities to trade in the direction of the main trend. Wait for price to reverse, enter when it breaks out and and then let it continue with the main trend. Take profit at the right time.

AUDJPY H4 chart below shows nice up trend. Prices reversed to the green 30EMA and bounced back to continue with the main trend. Enter a buy trade after confirmation from the upward bounced of the candle. Note that it is a full body candle indicating strong momentum.

One day later, AUDJPY prices moved up convincingly. Risks is about 70 pips for a profit of about 140 pips. Risk to Reward is 1:2.

EURCAD H4 chart below shows Prices reversed from uptrend to downtrend. Note the EMAs turning as well. Same principle. Wait for price to retrace or swing back and enter when prices resume the main downtrend.