Entry – 82.0
Take Profit – 82.94 – 94 pips
Stop Loss – 81.55 – 45 pips
Been on a bit of a losing streak with my published trades. Seems like the ones I put out there are the ones that fail, but oh well. Even through there’s plenty of volatility with the trade war and USMCA deal, I entered a CADJPY trade. Daily chart. Looking for a reaction off the 200MA (blue line), ascending trendline, and the bottom of the Ichimoku cloud. My take profit is at an area of previous resistance (cyan line), though if this works out I’d guess price will continue rise to the second resistance level.
My concerns for this one is that price is below the 30EMA (green line) and conversion line (red) on the daily chart and price is obviously in a downtrend on the weekly chart with price at/below the Ichimoku cloud and the below the 200MA. Still, I’m not looking for very much relative to that timeframe so I think there’s a chance. The downside risk isn’t huge and worth the try.
Thanks for looking,
Zedro
Take Profit – 82.94 – 94 pips
Stop Loss – 81.55 – 45 pips
Been on a bit of a losing streak with my published trades. Seems like the ones I put out there are the ones that fail, but oh well. Even through there’s plenty of volatility with the trade war and USMCA deal, I entered a CADJPY trade. Daily chart. Looking for a reaction off the 200MA (blue line), ascending trendline, and the bottom of the Ichimoku cloud. My take profit is at an area of previous resistance (cyan line), though if this works out I’d guess price will continue rise to the second resistance level.
My concerns for this one is that price is below the 30EMA (green line) and conversion line (red) on the daily chart and price is obviously in a downtrend on the weekly chart with price at/below the Ichimoku cloud and the below the 200MA. Still, I’m not looking for very much relative to that timeframe so I think there’s a chance. The downside risk isn’t huge and worth the try.
Thanks for looking,
Zedro
Trade active:
Trade was active prior to publishing this idea.
Trade closed: target reached:
Target hit, profits taken. In about three days price hit the target. Very little movement toward my stop, so this ended up being a very nice trade. Pretty happy with this one.
-Zedro
-Zedro