CADJPY LONG

-CADJPY has retraced to the 50% fib level on the daily chart and consolidated there for a few weeks.
-there is bullish bias on the hourly. Bullish divergence on the 4H and hidden bullish divergence on the Daily
-I’m looking for the perfect opportunity to enter a long position on the hourly.

I’ll update if and when I enter!


Good luck !

Trade active:

Zooming into the hourly, the price seems to be reversing off the 50% fib level, so I’ve activated the position !

Trade closed: stop reached:

- 24pips

May look for better entry if I get the signal. Will update if I do.

Comment:

* -19pips

Trade active:

Comment:

This second entry has been more successful, it is currently approx 40pips in prof and risk free

Comment:

Hope you are still hanging in there, patience is a big part of this, esp for the juicy pips lol

Comment:

Best position is approx +80pips in profit. I’m going to lock some of that in as usual and make any remaining positions risk free. Price looks as though it’s trying to break through this daily key level. In case it doesn’t, try to capture some profit in the event it does turn around.

Happy day!

Comment:

There is a CPI rate release for CAD at 1330 uk time today, so at least make sure your positions will be risk free for that. Hopefully this data will impact our positions positively !!

Good luck !!

Trade closed: target reached:

My positions were stopped out sometime last night. Five positions closed in profit one position 0 prof loss.

+113pips
+73pips
+63pips
+55pips
+35pips
—————-
+339pips

Excellent!!!

Trade closed: stop reached:

Close * price was 79.731