CADJPY - SHORT - Price reached Fib discount levels

Since price made the first leg downwards, we had a retracement of more than 50% at fib levels, which makes grade opportunity to short. Watch for rejection First TP the structure below, Second TP after securing some profits at a level below at the order block.

Comment:

The execution of the trade had been wrongfully paced at 106.86 instead of 107.355.

The RR is much bigger from what it looks in the screenshot.

Sorry for the inconvenience

Comment:

Trade is ITM. Use proper management to stay profitable.

Trade active:

At this point we are ITM with RR 1:1

This is a successful trade. From now on is up to you whether to hold or close.

You can wait to make a lower high and bring you SL to brake even, in order to have a safe trade.

Trade active:

Until this moment the trade gains 30% from our opening position.

Congrats to those who followed!!

Trade active:

At this point we are 1:4 RR.
The majority of the traders are extremely happy with 1:3 RR.

If you made this trades congratulations!

Trade active:

140 pips ITM till now

Trade active:

At 105.500 level there is a bullish order block. There is a possibility for the price to react at this level.
If you don't feel comfy you can close the trade there with 1:5 RR Not bad at all.

Order cancelled:

News made the price reverse against us.

If you have some of your trade still running consider closing it and keep the profits from before. We will let the price calm and see our next position.

Trade closed: target reached