Short CADJPY with great r/r
UPDATE 5/6: Stopped out with a bang. Result: -1R.
UPDATE 2/6: The position has not been stopped out as the S/L has been in fact set on 100.469.The order was quite conservative (half the pin bar) what allowed for some more room between opening price and S/L.
This is a bit of a long shot. I went short after the bearish pin bar from 5/5, conservatively in the middle of the candle. This is around .5 & .618 fib retracement of the last impulse drops (depending on which top to take into account)
1) 06/05 Sell limit - middle of the pin bar candle from 5/5, S/L slightly above the candle, T/P in the low area of the consolidation highlighted in blue, R/R 8(!) - ALREADY OPENED
The price is still high enough to try to enter this trade.
UPDATE 2/6: The position has not been stopped out as the S/L has been in fact set on 100.469.The order was quite conservative (half the pin bar) what allowed for some more room between opening price and S/L.
This is a bit of a long shot. I went short after the bearish pin bar from 5/5, conservatively in the middle of the candle. This is around .5 & .618 fib retracement of the last impulse drops (depending on which top to take into account)
1) 06/05 Sell limit - middle of the pin bar candle from 5/5, S/L slightly above the candle, T/P in the low area of the consolidation highlighted in blue, R/R 8(!) - ALREADY OPENED
The price is still high enough to try to enter this trade.
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.