IvanLabrie
Short

CADJPY: Short after leaving congestion zone

FX:CADJPY   Canadian Dollar/Japanese Yen
385 51 13
Simple trade setting up after a week's advance.
Entry under the weekly low and at 95.051.
Shout out to jangseohee and justatrader, who are already on this trade.
Good luck to us all!
Trade closed: stop reached
3rd wave or 5th wave on the next run? why?
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potential right shoulder?
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updated channel
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first test of 91.75 seems like a fair target
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IvanLabrie PRO workingtraders
Indeed, I normally try to scale in while the trade is valid per my rules, and take partial profits once I see a divergent low or we approach a significant support level (if the stop is in the potential retracement area that is, if not. I let it sit and wait).
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quite agree on the downside, here is how i see it
CADJPY SHOULD COMPLETE HEAD AND SHOULDERS
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You're pretty conservative with your targets.
I think this is a big move, just have to be careful with the stops, or take profits from scale ins while it falls.
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HiTech PRO IvanLabrie
I don't like staying too long in the market, day, two, tree, then just find another opportunity :) but yea, seems like it could be a big trend
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Just take partial profits and scale in every chance you get...eventually your earlier trades will be able to keep going without being stopped (I like moving stops to break even on the initial orders after taking partial profits).
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HiTech PRO IvanLabrie
thanks... money management is a big conversation :)
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HiTech PRO IvanLabrie
by the way, thats my earlier idea, the one above its just an update
CADJPY - BEARS TAKING OVER
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CADJPY... The currency pair that tests one's patience!!
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jangseohee justatrader
Trading Psychology 101 :-)
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Finally starting to move...if you plot a daily ichimoku, you will see how we're right under the cloud, about to free fall.
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Canada just released some shit datas
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IvanLabrie PRO jangseohee
Bad for them, good for our short.
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HiTech PRO jangseohee
I think it won't affect CAD too much and can even strengthen it
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If cadjpy goes over my stop, I'll be really surprised...and my trade would be invalid, and cost me 2.5%.
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HiTech PRO IvanLabrie
bot JPY and CAD are strong in relation to majors, but as jpy is stronger than cad, trend should be down for now
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Daily and weekly time and price targets.
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IvanLabrie PRO IvanLabrie
Monster trade setting up!
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I think you could expect a bounce to 95.8
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IvanLabrie PRO justatrader
If that happens it'll invalidate my short.
Talk about party-poopin' mate...I don't think it will, that's why I'm in this trade.
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Just keep your eyes open.. Of course I may be wrong though.
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IvanLabrie PRO justatrader
That would completely negate this short.
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jangseohee justatrader
potential double bottom!
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Same as audjpy, possible sideways grind or reversal.
I doubt it'll reverse, but it's better to stay out and watch from the distance when to re-enter.
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HiTech PRO IvanLabrie
from my perspective all jpy pairs are looking, but yea, ranging can take place
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https://www.mql5.com/en/charts/3176191/cadjpy-d1-fxopen-investments-inc-not-much-to-do-here
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are you still in this trade? Looks like shorts could be valid provided it breaks 95.13, else if 95.13 turns to support then its back up all the way again.
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jangseohee justatrader
Head & Shoulders?
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with new information included, i have decided to get rid of the triangle to avoid confusing, and readjusting my downtrend channel to fit the latest
i see a potential bull flag (red small channel) if it breaks up but in a bigger pic..
i thought i see a potential right shoulder.. no guarantee
Cheers
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jangseohee jangseohee
i had some luck in this
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IvanLabrie PRO jangseohee
Heh, that strange H&S.
Yes, I think we will see a rebound soon. Not the best of shorts for me.
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Stop hit means invalidation for the time being.
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seems valid again?
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IvanLabrie PRO workingtraders
Not for me, not yet. But the last daily bar looks promising.
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I advise caution shorting this now.
It's possible that we are under the former support level and stay there but it can also turn into a big range.
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HiTech PRO IvanLabrie
Something like that is very likely
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Yes, indeed. I'd rather stay out of this pair for now.
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HiTech PRO IvanLabrie
I might have short term sell confirmation on Tuesday
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There's better stuff to trade now.
See my balanced portfolio idea, also see audchf, or gbpcad/aud.
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HiTech PRO IvanLabrie
Will have confirmation on audchf sell on tuesday, gbpcad and gbpaud looks more less flat to me.

The most interesting in my view right now is gbpjpy and eurjpy... down
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GBPJPY will probably retrace now, eurjpy I think it'll head down quickly.
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HiTech PRO IvanLabrie
I am expecting 4 days of a downtrend for eurjpy and gbpjpy... lets follow
GBPJPY SHORT TRADE SETUP
EURJPY SHORT TRADE SETUP
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HiTech PRO IvanLabrie
by the way, this is my month old idea on gbpjpy, it broke every single support
GBPJPY AT THE KEY RESISTANCE
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Complex correction here might end soon, see my crude chart.
jangseohee has a wonderful thread where he's monitoring crude on a daily basis.
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jangseohee IvanLabrie
oh dear, i am not that fantastic man
i can still be wrong ^_^
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IvanLabrie PRO jangseohee
But I think you're right and you deserve the recognition ;)
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jangseohee IvanLabrie
i will be cursed if the shorties get stop out :-)
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IvanLabrie PRO jangseohee
Dam right son!
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