CADJPY - Sell Back In Line The Bearish Channel
Updated
CADJPY has been temporarily sleep-walking up out of a down trending channel through an up thrust.
Some resistance rejected at 88.30. Smart pin.
Expecting to return back in line revisiting the channel.
Exaggerated Divergence (Bearish).
TP1 - 86.50
TP1 - 85.50
Good loot management in play.
Some resistance rejected at 88.30. Smart pin.
Expecting to return back in line revisiting the channel.
Exaggerated Divergence (Bearish).
TP1 - 86.50
TP1 - 85.50
Good loot management in play.
Trade active
Order cancelled
Post trade lesson: This didn't work out. There was a break out the channel (trend resistance) and then a bounce back down on the outside of the original planned channel which implies that is became new support. Good lessons. The breakout behaviour was a large bar (4h) and the natural retrace after the breakout out was back to the channel trend, but didn't touch (shows strength), with a very good looking candle with a large wick, is this a pin bar (1 oct 6am gmt)?
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