Technician
Short

CADJPY: Possible Pullback Near Potential Resistance #forex

FX:CADJPY   Canadian Dollar/Japanese Yen
1628 11 27
I just shorted the pair on the confluence of 50 percent retracement level for a major bearish wave and 1. 1618 extension for the latest bearish wave as outlined on chart. In addition to 99.00 horizontal resistance level (previous swing high). The price formed a pin bar at that resistance area , while RSI is showing bearish divergence as well.

Lets hope the timing is right.
Good luck
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My best regards
Technician

Trading Criteria:
1.Trades are taken in two units
2.First unit would be closed at first target
3.Stop loss is then moved to break-even
4.Second unit would be closed at second target
Notes:
5) If 90 percent of first target is reached without triggering entry I cancel the trade
6) If 90 percent of first target is reached I move stop loss to breakeven.
7) Remember: Losing is a main part of the game

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cad/jpy is still for downside or not?
Reply
hey i am very fear from canadian gdp i hope the pair fall
Reply
has a pinbar on daily. may be a confirmation for sell
+1 Reply
Last two position were losers. :S . Should rest a bit..
-1 Reply
Tijmen_K Technician
No problemen mate i like your analyses. Thanks!
Reply
Watching This area now
snapshot
-1 Reply
MuathAlBulbul Technician
We were stopped out on 5 pip margin! Damn it.
Reply
Technician TOP MuathAlBulbul
Not really, still active here
+1 Reply
Tijmen_K MuathAlBulbul
Still active
Reply
Not any more :S .
-1 Reply
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