Short

CADJPY Short 4hr

Updated

CADJPY has just made a lower low on the 1 hourly. This is at a support level which it is looking to break through. if this happens this will be a nice short entry. Remember that losses on your stop should never be more than 1-2%.

Happy trading
The Trading Box

Trade active

Trade entered short on the retrace.
Entry at 8057.6 with SL@8086

Note

This is the perfect short entry. It has broke the support and is now retracing to test the previous support as the new resistance.

Trade active

After being stopped out of this trade on the false breakout, I have now re entered this trade with the above parameters.

Note

This trade is looking like it may now form an entry. As per my other trade entry analysis for other pairs, follow the same thesis. Patience is key!!!

TheTradingBox

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