TAS
Short

CADJPY Break of channel and triangle

FX_IDC:CADJPY   Canadian Dollar / Japanese Yen
175 9 8
Looking for an entry at confirmation of breakout of bullish channel and triangle at the hit of long term trendline . Divergence on RSI . Daily Candlesticks confirm with a double evening star at Resistance, see my daily Chart on CADJPY             .
Comment: CADJPY retesting the lower trendline, waiting on confirmation
Trade active: Shorting on Triangle outsider retest
Comment: Stop Loss at break even, hope eveyone is catching this one.
Trade active: Loving this trade, who's in it, let me know how you guys are doing.
Trade active: Retracement back to the 61.8, possible good price to ad to
Trade active: Ading to position
Trade active: News scare with great Cad News, still on the trade though
Trade active: Reentered at 15M Head and shoulders, see image bellow
Trade closed manually: Closed
is it expected to run down now to 79.328? Im newby :)
Reply
TAS bobbysims3
I'm thinking it will, trailing my stop along the way
Reply
Ok...I got in...I hope it wasnt too late! I seen one of your calls yesterday...I was amazed actually..lol
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Thanks TAS great analysis. Any stops and Targets?
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TAS AngusStewart
Sorry for the late reply. Stops and TP are always hard to advice as it has to do with your Money management. I think as a Stop you'll be ok at 85.75 or 86 as it has already crossed my moving averages on the 5M. As a target it also depends on your strategy, are you a day trader or position? If day, look for next support levels, if position trader, and you don't mind price movements it could go as low as 79.3, but it will take a couple of weeks to get there
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many thanks.
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I have a similar view. Waiting for my channel support and fib support to break.
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TAS QuileHills
I think it will hit your entry, let me know.
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