I didnt enter this trade yet, i am looking for a retracement toward the 84.80/85.00 level for an entry.
Stop should be placed above 85.55 targeting the 83.00 area.
Fundamentally i see further declines in OIL coming. (chart below)
This will keep the pressure on the CAD further declining in the shortterm.
I guess OIL will find a bottom in the lower $40's.
Jpy is currently strongly backed with repatriation flows from big companies closing their books before the japanese financial years ends in march.
So this is in my opinion an important breakout lower, from the flag and the 100 DMA. Closing on the weekly lows also makes a strong case for further falls in the near term.
Please use proper risk management and make your own analysis. This trade might aswell fail. Never trade without stops.
Blessings to you all.
Stop should be placed above 85.55 targeting the 83.00 area.
Fundamentally i see further declines in OIL coming. (chart below)
This will keep the pressure on the CAD further declining in the shortterm.
I guess OIL will find a bottom in the lower $40's.
Jpy is currently strongly backed with repatriation flows from big companies closing their books before the japanese financial years ends in march.
So this is in my opinion an important breakout lower, from the flag and the 100 DMA. Closing on the weekly lows also makes a strong case for further falls in the near term.
Please use proper risk management and make your own analysis. This trade might aswell fail. Never trade without stops.
Blessings to you all.
Comment:
Going as planned... moving stop to breakeven now.
Comment:
Bearish sentiment. Yen is the big winner.
Staying sell until 82.50/70! Not closing early.
AUDJPY is also a good sell play.
Staying sell until 82.50/70! Not closing early.
AUDJPY is also a good sell play.
Trade closed: target reached:
Plan your trade, trade your plan.
