Notes: Technical markers on the chart, and are pretty straightforward. Original idea is linked below as well as the original Long trade.
Technical Analysis: A small Head and Shoulders Pattern is evident on the chart. A break of 91.600 exposes the first target at 90.700. 93.00 has of late proved to be quite the Resistance Level as the pair failed to achieve a daily close above this handle with two notable failed attempts on the 9th and 12th of October daily candles. It is important to note...
UPDATE: Target 1 Hit. Profits Booked on First Position. UPDATE 2: Target 2 Hit. Profits Booked on Second Position. 2 CADJPY Short Positions Triggered with a dip down below the 200 SMA on H1 TF. Fundamentals Recent OIL Prices Devaluation, Canada's Seemingly Recessive Economy and Risk Aversion Vibes are all factors that may contribute to a weaker CAD. ...
Update 1: SL was a little too tight. In reality SHort is still in play. SLs can't be moved on TradingView. Update 2: TP was hit at 121.423 Technical Factors: I like the Tweezer Tops on H4. The pair is currently trading below the 200,100 and 50 SMA. They are now dyniamic levels of Resistance. H1 has a number of rejection candlesticks off 122.900...
Might be difficult to get this ball rolling with a smooth start but in the event of a proper channel breach (pictured) and a solid daily close below 1.100 , there's about 550 Pips on offer till the March low of 1.045 if risk aversion truly kicks in, coupled with a rapid devaluation of the EUR. The EUR is currently a moderately risky asset to hold what with...