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CloudPippin
Sep 21, 2018 1:44 PM

Bad NAFTA for CAD Short

Canadian Dollar/Japanese YenFXCM

Description

I usually don't take trades on Friday but I think this will be a good entry. Fundamentally, White House just announced they are 'very close' to signing NAFTA with Mexico without #CAD
This could push CAD down to the broken TL on 4H of #CADJPY which did not retest. This is an early entry, you can wait for confirmations and then enter, upto you.

Trade closed manually

Comments
BarBaAustin
Hey bro I confuse why cadjpy down cadchf up
CloudPippin
@BarBaAustin, Hey, so my fundamental in this trade was White House announcement that they could keep CAD out of NAFTA since Trudeau is pushing Dairy during NAFTA talks. Plus technically, this zone that it broke of 4H hasn't been broken since February 2018 so it has high chance of coming down to retest it. If fundamentals goes our way, we could see it pushing down. Of Course, you're more than welcome when you want, but, I see it coming down to the purple CTL to retest it as it hasn't done that since it broke out. CADCHF can be bull if CHF is more weaker than CAD. For example: USDJPY can be bull but USDCHF can be bearish if CHF is Stronger than USD if JPY is Weaker than USD we can see it pushing up.
I hope that answers your question :)
BarBaAustin
@CloudPippin, thank man where you from bro.
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