CADJPY - E: 86.419 SL: 85.620 TP : 88.240 1.54%r 2,3R
This trade is still off the BOC decision and tapering. This is a follow on from previous long CADJPY trade that I got out on break even earlier.
Entry was roughly middle of 68.2% fib of jump on BOC decision.
Entry not too bad, but significant support turned resistance at 86.65/70.
Last 2 days sell off over Asian and London Session, then North American trade comes on and CAD buying resumed.
Entry was roughly middle of 68.2% fib of jump on BOC decision.
Entry not too bad, but significant support turned resistance at 86.65/70.
Last 2 days sell off over Asian and London Session, then North American trade comes on and CAD buying resumed.
Trade active:
Trade active:
Bullish - 4 MAs 200,100, 50, 20, found support at 86.0 and off 50 Day MA.
Bearish = Squeeze Momentum red but slowing.
SL - Move up to protect, at least below 86 as a minimum.
Bearish = Squeeze Momentum red but slowing.
SL - Move up to protect, at least below 86 as a minimum.
Comment:
Also daily close above 20 Day EMA.
Comment:
Chart 2 = Bearish
Bullish - Strong close over the Monthly Pivot.
Bullish - John Carters Scalper Strategy - Moved to Long.
Chart 2 = Bearish
Bullish - Strong close over the Monthly Pivot.
Bullish - John Carters Scalper Strategy - Moved to Long.
Comment:
Chart 3 - Bullish
Strong Breakout upside from Channel.
Initial EMA Cross or 8/21.
Strong Breakout upside from Channel.
Initial EMA Cross or 8/21.
Comment:
Comment:
161.8% around 87.60 is probably first target now.
I only have small position and there is almost nothing showing that I should sell at the moment.
I only have small position and there is almost nothing showing that I should sell at the moment.
Comment:
So want to give it some room, so will move stop only upto 85.78, a small move, but risk is reduced and lots of room. FOMC Meeting due tommorow, may impact this trade, review again tomorrow before FOMC.
SL now at 85.78
SL now at 85.78
Comment:
Broke above 161.8% fib overnight and holding above it in early Asian trade.
Comment:
Moved SL up to 86.95, locking in approx 1% profit.
Stop below 21 EMA in both 4 hourly and Daily.
Stop below 21 EMA in both 4 hourly and Daily.
Trade active:
CAD Retail Sales in a few minutes.
Market seems to be pricing in positive news, as pair right at highs for the week.
Market seems to be pricing in positive news, as pair right at highs for the week.
Comment:
Trade active:
Retail Sales came in even stronger than estimates.
Core Retail Saes (MoM) (Feb) 4.8% vs 3.7%
Retail Sales (M0M) (Feb) 4.8% vs 4.0%
Should support CAD.
www.forexlive.com/ne...40-expected-20210428
Looking for break above 88.00, might actually expect sell off, as retail sales could have been priced in.
Core Retail Saes (MoM) (Feb) 4.8% vs 3.7%
Retail Sales (M0M) (Feb) 4.8% vs 4.0%
Should support CAD.
www.forexlive.com/ne...40-expected-20210428
Looking for break above 88.00, might actually expect sell off, as retail sales could have been priced in.
Trade closed: target reached:
Really nice trade, with minimal drawdown.
Pushed to top by retail sales and oil price I suspect.
Profit 3.4%.
Pushed to top by retail sales and oil price I suspect.
Profit 3.4%.
Comment:
Hit highs of 88.70, another 50 pips above my TP.
Don't lament missed profit, trade as a good trade idea and I executed as planned.
Don't lament missed profit, trade as a good trade idea and I executed as planned.
Above example all are Daily.
Chart 1 = Mixed
Bullish - 4 MAs 200,100, 50, 20.
Bearish = Squeeze Momentum based on John Carter's TTM Squeeze.
Chart 2 = Bearish
Bearish - Monthly Pivot price below all week, also under weekly pivot.
Bearish - John Carters Scalper Strategy
Chart 3 - Bullish
Rising Dily trendline, 4 days.
Downward Channel staying above halfway point.
Chart 4 - Mixed
Dropped to 38.2% fib retracement, bullish would be support at 50% holding.
Mixed because it hasn't retested low as yet,
Need break above 86.80 to get out of range and push higher.