About to deadcross? Interesting ~

FX_IDC:CADJPY   Canadian Dollar / Japanese Yen
48 8 3
About to deadcross? Interesting ~ Yet very slow mover...
Hehe, using moving averages cross have been very extremely trick, not to mention about a MACD death cross the signal line.. this are the most unreliable signal i feel, of course on hindsight it always looks good

but the fact that the small mini channel (once break down) a.k.a a bear flag at least offers a silver lining :-)
Yes.. a very slow moving pair. I've been short on CADJPY and price barely moved for the past two days. What's your take on the targets?
alex.a justatrader
+1 Reply
hmmm.. so i'll round it off 93!!
IvanLabrie justatrader
Let me chime in:

This and audjpy are weekly trades I fear. They will start moving by Monday probably.

Stop should be over 93.3 and first target should be 91.37.
If that is breached, we will see a free fall. There's literally nothing holding the prices from dropping really hard.
IvanLabrie IvanLabrie
(sorry, that was for audjpy!)
Cadjpy, very similar situation:

Stop: 95.6
First target: 93.52 (but only if the area between 94.82 and 94.13 is breached strongly. After that, 92.37 is the last support before a free fall to 83.
jangseohee IvanLabrie
you are very welcome Mate :-)
+1 Reply
alex.a justatrader
94.3 as a 1st target and 92.8 as a 2nd target ~ I will move my stop to go near or a bit further down to the previous L around 91.5
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