Technician
Short

#CADJPY: One More Short Attempt #forex

FX:CADJPY   Canadian Dollar/Japanese Yen
1234 8 26
Update: Trade is active
Update: Half position closed at First Target , stop loss moved to entry


I had no luck shorting the pair recently, however, i still see the bearish setup valid and therefore wont hesistate to short this again.

Yesterdays candle closed lower, forming a long-legged doji candle at that major resistance zone as you can see on chart.
A follow through and break below the doji's low could give further chances for this scenario.

Good luck
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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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the pair is a long to around 103.47
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Update: Half position closed at First Target , stop loss moved to entry
+1 Reply
luismialcega Technician
what do you think now that the pair is just at the resistance with a powerfull bullish candle?
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Technician TOP luismialcega
yeah, the remaining half was already closed at breakeven.
+1 Reply
took it from 99.330 , if it breakes the 97.50 the daily 200 I will go for longer term downtrend .
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Nice one, I'm a bit late, but still ok to me :)
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100 it's the level now . Still watching this pair ..
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I agree, i have a sell limit orders already triggered
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