glennmercer
Short

CADJPY: POSSIBLE ENDING DIAGONAL - Short From Here (Retrace)

FX:CADJPY   Canadian Dollar/Japanese Yen
306 11 19
Hey traders! After a bearish impulse witnessed 9/20, we saw a correction to the .786 fib. This correction has ended on an ending diagonal , a quintessential reversal pattern. The target is 75.8. Any price movement above recent high will force me out and I will re-evaluate. Otherwise, ride it down. Happy Trading!
Trade active: In order to find precise entries like this, here's what it looks like INSIDE the candle. 1m Chart:
snapshot
Comment: Beautiful Resistance!! Stop set to B/E:

snapshot
Trade closed manually: Closed at breakeven! Another great thing about tight stops is the adjustment to breakeven is so small that it can be done after the next lower-degree impulse wave completes and your risk goes to zero.

Here's the next level to watch:
Comment:
snapshot
Comment: RE-ENTRY:
snapshot
so go sell now ?
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Hamedo, I sold this already, yes. If this fits your trading plan, then you can sell it too. Always follow your own strategy, never blindly follow mine or anyone else's! Cheers!
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hamedo glennmercer
thank you man for great advice :)
but i follow you and i try to learn from your great analyze
+1 Reply
My pleasure buddy keep it up
+1 Reply
lipikacrude glennmercer
SIR PLEASE UPDATE ON USOILFOR TRAINLE FORMATION POTENTIAL REVRSAN HERE OR 47.50 FOR LAST WAVE . PLEASE REPLY SIR
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glennmercer PRO lipikacrude
I may be able to find some time tonight. I will update it within 24 hours
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u got stopped, but can get a better entry
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Yes, at break even
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Hi, What is your Target profit (pips) from your entry?
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glennmercer PRO BabasNumbaOne
164 pips from current position:
CADJPY Short: Better Entry Against TL Resistance (EW Count)
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BabasNumbaOne glennmercer
Hi, back at you for this transaction. I stopped at 86.5 pips profit. It started late ... but at least it worked. #ThumbsUp
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