CADJPY has just made a lower low on the 1 hourly. This is at a support level which it is looking to break through. if this happens this will be a nice short entry. Remember that losses on your stop should never be more than 1-2%.
Happy trading
The Trading Box
Happy trading
The Trading Box
Trade active:
Trade entered short on the retrace.
Entry at 8057.6 with SL@8086
Entry at 8057.6 with SL@8086
Comment:
This is the perfect short entry. It has broke the support and is now retracing to test the previous support as the new resistance.
Trade active:
After being stopped out of this trade on the false breakout, I have now re entered this trade with the above parameters.
Comment:
This trade is looking like it may now form an entry. As per my other trade entry analysis for other pairs, follow the same thesis. Patience is key!!!