CADJPY Trade Ideas
ALOHA Traders!
The market is showing some nice setups to end the month of SEP brining in some nice momentum going into OCT and beyond. Here is one of my ideas of what I’m thinking price can do.
1. CADJPY S (not in position)
D - Waiting for further development before I place a live entry on this one, but it looks very rnearentry criteria for myself. I want to see price reject off the 50 EMA with a nice pattern.
4HR - Clean bear channel forming to wait for the 40 EMA to catch up with price. Still nice bear momentum.
1 HR - Already formed a triple top range area and can reject back into range to the downside or hover a bit longer crawling to the upside before a strong breakdown. 50 EMA not in favor.
15Min - 15 EMA not in favor but still looking nice after a near triple touch range.
As always, price can absolutely do some crazy, whip shaw shenanigans and nothing is ever a guarantee in the market until it actually happens.
SL set at 71 pips.
Target: @ .6700 level.
ALOHA Traders!
The market is showing some nice setups to end the month of SEP brining in some nice momentum going into OCT and beyond. Here is one of my ideas of what I’m thinking price can do.
1. CADJPY S (not in position)
D - Waiting for further development before I place a live entry on this one, but it looks very rnearentry criteria for myself. I want to see price reject off the 50 EMA with a nice pattern.
4HR - Clean bear channel forming to wait for the 40 EMA to catch up with price. Still nice bear momentum.
1 HR - Already formed a triple top range area and can reject back into range to the downside or hover a bit longer crawling to the upside before a strong breakdown. 50 EMA not in favor.
15Min - 15 EMA not in favor but still looking nice after a near triple touch range.
As always, price can absolutely do some crazy, whip shaw shenanigans and nothing is ever a guarantee in the market until it actually happens.
SL set at 71 pips.
Target: @ .6700 level.
Order cancelled:
I have no position but did place a tighter position on my live account for a loss. The market be cray but I'm still looking for a short move in the near future.