IvanLabrie
Short

CADJPY: Short after leaving congestion zone

FX:CADJPY   Canadian Dollar/Japanese Yen
384 51 12
2 years ago
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!
a year ago
Trade closed: stop reached
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jangseohee
2 years ago
3rd wave or 5th wave on the next run? why?
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jangseohee
2 years ago
potential right shoulder?
snapshot
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jangseohee
2 years ago
updated channel
snapshot
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workingtraders
2 years ago
first test of 91.75 seems like a fair target
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IvanLabrie TOP workingtraders
2 years ago
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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HiTech PRO
2 years ago
quite agree on the downside, here is how i see it
CADJPY SHOULD COMPLETE HEAD AND SHOULDERS
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IvanLabrie TOP HiTech
2 years ago
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
2 years ago
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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IvanLabrie TOP HiTech
2 years ago
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
2 years ago
thanks... money management is a big conversation :)
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HiTech PRO IvanLabrie
2 years ago
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
2 years ago
Trading Psychology 101 :-)
+1 Reply
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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jangseohee
2 years ago
Canada just released some shit datas
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IvanLabrie TOP jangseohee
2 years ago
Bad for them, good for our short.
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HiTech PRO jangseohee
2 years ago
I think it won't affect CAD too much and can even strengthen it
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IvanLabrie TOP HiTech
2 years ago
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
2 years ago
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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snapshot


Daily and weekly time and price targets.
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IvanLabrie TOP IvanLabrie
2 years ago
Monster trade setting up!
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justatrader PRO IvanLabrie
2 years ago
I think you could expect a bounce to 95.8
snapshot
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IvanLabrie TOP justatrader
2 years ago
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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justatrader PRO IvanLabrie
2 years ago
Just keep your eyes open.. Of course I may be wrong though.
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IvanLabrie TOP justatrader
2 years ago
That would completely negate this short.
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jangseohee justatrader
2 years ago
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
2 years ago
from my perspective all jpy pairs are looking, but yea, ranging can take place
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IvanLabrie TOP HiTech
2 years ago
https://www.mql5.com/en/charts/3176191/cadjpy-d1-fxopen-investments-inc-not-much-to-do-here
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justatrader PRO IvanLabrie
2 years ago
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.
snapshot
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jangseohee justatrader
2 years ago
Head & Shoulders?
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jangseohee
2 years ago
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
snapshot
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jangseohee jangseohee
2 years ago
i had some luck in this
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IvanLabrie TOP jangseohee
2 years ago
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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workingtraders
2 years ago
seems valid again?
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IvanLabrie TOP workingtraders
2 years ago
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
2 years ago
Something like that is very likely
snapshot
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IvanLabrie TOP HiTech
2 years ago
Yes, indeed. I'd rather stay out of this pair for now.
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HiTech PRO IvanLabrie
2 years ago
I might have short term sell confirmation on Tuesday
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IvanLabrie TOP HiTech
2 years ago
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
2 years ago
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
+1 Reply
IvanLabrie TOP HiTech
2 years ago
GBPJPY will probably retrace now, eurjpy I think it'll head down quickly.
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HiTech PRO IvanLabrie
2 years ago
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
2 years ago
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.
snapshot
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jangseohee IvanLabrie
2 years ago
oh dear, i am not that fantastic man
i can still be wrong ^_^
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IvanLabrie TOP jangseohee
2 years ago
But I think you're right and you deserve the recognition ;)
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jangseohee IvanLabrie
2 years ago
i will be cursed if the shorties get stop out :-)
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IvanLabrie TOP jangseohee
2 years ago
Dam right son!
+1 Reply
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