PriceActionTrading
Long

CADJPY BUY AT 96.00-97.00

FX:CADJPY   Canadian Dollar/Japanese Yen
435 47 15
TRYING MY HANDS ON MORE PAIRS NOW THAT THE MAJORS HAVE BEEN PERFORMING BADLY FOR ME.
RECENTLY REJECTED FROM 100.00 ROUND NUMBER RESISTANCE.
THIS PAIR MAY SEE SOME CORRECTION TO 97.00 OR EVEN 96.00.
A TRADE WORTH LOOKING OUT FOR NEXT WEEK.
If only i know a way to send notification to my followers informing them of trendlines broken, watch this or stuff. Instead of having to types comments or post an idea just for a comment. That would be great.
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Just a follow up.

More confluence and reason for you to continue holding onto your SELL CADJPY until 96.00 - 97.00

snapshot
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PriceActionTrading PriceActionTrading
Oh yes, forgotten to mention about the 20 50SMA H4. Cant exactly say it failed to close above it neither can i say it successfully closed above it.
It is just lying exactly at the 50SMA but i would the past 2 H4 bars was a futile attempt to close back above the 50SMA, thus bearish bias for me.
+1 Reply
moneymaking PriceActionTrading
Good luck Price action, I wanted to short at 99.12 but looks like I have missed the train :)
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Just a follow up.
I could not get in initially at the top.
Since we already have confirmed bearish bias,
I found some confluence for me to enter the trade @ market.

50% fib at 50SMA 20SMA H4.
snapshot
+1 Reply
Casey_Yeo PriceActionTrading
That is also a support become resistance zone in H4.
There is also a small pin bar (previous candle) at that zone.
Tempted to add at break below the pin bar but realised it is against my rules.
+1 Reply
Haha. Yes exactly. I entered at that small pin bar. Well if it is against your rules then do not. Haha.
I noticed that pin bar but did not want to mention that pin bar due to controversy issue.
Pin bar IMO usually are defined to be more than 30 pips on H4 and above timeframe.
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PriceActionTrading PriceActionTrading
@moneymaking
This is an example of how i would draw a FIB.
1)a clean retracement to the 50%/61.8% level
2)not over more than 10~ bars.

But but it is really up to you.
+1 Reply
moneymaking PriceActionTrading
Awesome price action, thank you for the great example. Appreciate it :)
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Casey_Yeo PriceActionTrading
I see. Unaware of such controversy.
So tempted that I mindlessly logged into trading platform and key in the orders. Then realised my trading objective.
Good luck mate.
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