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Cadjpylong

CADJPY - Bullish BiasCAD - Strong Bullish 1️⃣ CAD has been supported by rising crude oil prices. 2️⃣ The Bank of Canada has been one of the first developed country banks to announce a tapering in its QE program as the bank adapts to improving domestic economic conditions. 3️⃣ Canadian IVEY PMI and employment data will be released later this week and expected to increase higher. JPY - Strong Bearish 1️⃣ JPY pressured as market sentiment turned risk-on following positive US jobs data. ===== Technical ===== We are buying the CADJPY around support + above SMA 50 + at the pivot point on the H1 chart. ===== Risk to this trade ===== Any change in sentiment could turn the pair's direction.
Long
by MonsunAsia
CADJPY - BULLISH BIASCAD - Bullish 1️⃣ Confidence among Canadian exporters has soared to its highest level in more than 20 years following the continued global economic recovery. 2️⃣ Global crude oil prices traded well following a decline in inventories and market sentiment remained optimistic due to extensive vaccination programs in Europe and the United States. JPY - Bearish 1️⃣ Positive global market sentiment could put pressure on safe-haven currencies like the JPY. ===== TECHNICAL ===== - We're buying CADJPY on RBS level on H1 chart + pivot point area.
Long
by MonsunAsia
Buy on Support but wrong SL or TriggerThe 4H TF is bullish so I patiently waited until a pullback. Then I plotted support and bought when price touched it. Of course I didn't forget buying when the stochastic crossed on the lower TF (1HR) which was my trigger entry. Stop loss was set at -15 pips All that and I still got stopped out before price magically went my way. Nothing more frustrating sometimes. Maybe I should have set the SL wider or my trigger is wrong. Perhaps I should have waited until a bullish candlestick (That bullish engulfing two hours ago) The only good thing here is that my analysis was correct. I just didn't profit from it :)
Long
by jrebong