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 .
Nov 06
Trade active
Nov 18
Comment: Price prediction seems fairly accurate so far. Still looking for 81.250 before exiting short positions or going long.

Check out my blog site for more free technical analysis and trading education. https://diaryofafinancekid.com/blog/
Nov 20
Comment: Final target profit at 81.250 coming in to sight :)
Nov 21
Trade closed: target reached

Comments

You still in this trade
+1 Reply
@fali4209, I am indeed. Daily looking nice and bearish. I show my open position updates on my instagram if you are interested in following my trade management.
Reply
fali4209 Charlieab94
@Charlieab94, good luck with this i see it going higher after going sideways. I will enter short around 82.7/8 ish but
+1 Reply
@fali4209, Why would you short it at a lower price than current market price if you think it is going higher?
Reply
fali4209 Charlieab94
@Charlieab94, scalping bro
+1 Reply
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?
Reply
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.
Reply
@BannaKhan, your well wishes seem to be working
Reply
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