Hi mates sharing daily chart of Cadjpy as we can see price is moving in a ascending channel after support bounce and now giving a breakout inside in that channel so i am looking a long side trade opportunity in this trading pair, Target for this trade sharing on chart although i am feeling that i am an late entrant for this long trade but that consolidation breakout inside in channel tempting me so doing this, happy trading all mates.
This is not and trade or investment advice. This idea is meant for learning only.
Best Regards happy trading- Amit
This is not and trade or investment advice. This idea is meant for learning only.
Best Regards happy trading- Amit
Note
High break, Strong march towards target nice move captured. Thanks Tradingview got good strong trade by your provided screener check chart and shared idea.Note
Reached almost equal yesterday's high and sustaining above inside BO if close above yesterday's day close we can see a fresh momntum will biuld in itNote
Close to target oneTrailing stop loss update- Now taking stop loss on cost price for this trade to be free fom risk, it's a main part of my trading style and will wait for the target
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Happy target one complete mate good gains but this trade is booked, if close above resistance target one will go for a fresh trade in it. Cheers !!Note
Price gives a weekly close above last weekly swing highs although itis very marginal close but i assume that somehow it will give strength to published breakoutNote
Price is trading above target one resistance if it will close above we can see fresh momentum buildup in for published breakout, Still in good gainsNote
One more resistance based target complete, if it will close above this resistace based target we can see full and final target very ssonNote
Trailing stop loss update for this trade-:As you can see that it reached very close to final target marked on chart so now i will take a trailing stop loss a daily close below which i marked as (target 1 if resistance will break below) so if i will get trailing stopped out even then it will be good gains and experience too by this trade. Consider this as second last update for this idea mates, last and final i will update only after full target or after trailing stop loss recahed
Trade closed: target reached
Last and final target was 110.458 today reached 110.445 last and final target missed by 0.013, it gives a perfect example that how did resistance target work for us if we can identify the right spots for our profit bookings. So booked this completely very near to final target when it almost touched that and came down. Closing this trade under target tag beacuse it complete two targets and third one is just just missed. Chart is still looks bullish for me will publish a new idea for it this one is completely closed. Cheers mates !!
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.