MarkFletcher
Long

CADJPY long on potential reversal

FX:CADJPY   Canadian Dollar/Japanese Yen
105 4 0
Nice Bill Williams signal to get long on this pair. Target is at weekly pivot; will move it upwards if it looks like it is still going strong by the end of Friday.

Entered at 93.418
Stop at 92.226
Target at weekly pivot for now.

Will start trailing the stop using a 5-bar exit strategy if this bar closes in the black, which it looks a lot like it is going to do.
MarkFletcher
3 years ago
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MarkFletcher
3 years ago
stop moved to 92.875
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MarkFletcher
3 years ago
Target has been hit
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MarkFletcher
3 years ago
Should have held this longer. There was no reason to exit at the weekly pivot except an unwarranted lack of confidence in the trade. There was non-farm payrols on Friday but that wasn't a good reason to get out of a trade that was well under way by the time that event happened. Note to self -- if you are going to trade according to a system, it's necessary to follow the system!
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