CADJPY: Short for downtrend continuation

FX:CADJPY   Canadian Dollar / Japanese Yen
Entering shorts here is wise (I'm already in but had a delay posting the idea).
You can still get in with stops above today's high + 1 tick, risking 0.5-1% on the position.

Good luck!

Ivan Labrie.
Comment: Looks solid. You can see why I was in a hurry to post it...
Trade closed manually: You can cover the position here and switch to USDCAD longs, risking 1-3 times the ATR value.
Comment: Time to close USDCAD long if in.
Missed the trade but great analysis & thanks for sharing.
+1 Reply
Welcome, and a shame you didn't catch it but you can still jump in with a wider stop and smaller size, or you can look to join on a pullback/after a correction, there'll be plenty of downside to come here if I'm right.
Good one, I caught the trade a bit late and it has moved more than 80 pips to the downside. What is your profit target level please? Thanks
+1 Reply
IvanLabrie KayodeSholademiAmoo
No profit target, I'll let it run and analyze price action to exit before it retraces heavily.
Ok. Thanks for the response.
+1 Reply
(I didn't add much to the chart, but you should benefit from my call either way)
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