FX:CADJPY   Canadian Dollar / Japanese Yen
I am shorting CADJPY down to the 81.250 price zone.

Currently price has made a nice pullback and is forming a new lower high after rejecting the 83.00 resistance zone . I anticipate 2 more bearish waves down to my final profit taking zone before price either breaks or bounces from the target daily bullish trendline .
Trade active
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Nice idea but price action is comfortably sitting above 50 EMA. Wouldn't you be bullish unless it breaks below 50EMA with a bearish engulfing candle?
I'm looking to go long should this current 4h candle engulfs the previous one with a bullish engulfing candle and continue go higher.
+1 Reply
@BannaKhan, Nice! Well if your strategy says go long then I would go long :)
+1 Reply
@BannaKhan, are you in some nice drawdown yet?
BannaKhan Charlieab94
@Charlieab94, I didn't take any trade on this pair as yet. As mentioned in my last comment, last 4h candle didn't close as a bullish engulfing while still above 50 EMA. I'm on the sidelines for time being until I see a clear direction but good luck with your trade nonetheless.
@BannaKhan, your well wishes seem to be working
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