I am shorting CADJPY down to the 81.250 price zone.
Currently price has made a nice pullback and is forming a new lower high after rejecting the 83.00 resistance zone. I anticipate 2 more bearish waves down to my final profit taking zone before price either breaks or bounces from the target daily bullish trendline.
Trade active
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Comment
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Final target profit at 81.250 coming in to sight :)
@fali4209, I am indeed. Daily looking nice and bearish. I show my open position updates on my instagram if you are interested in following my trade management.
fali4209
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@Charlieab94, good luck with this i see it going higher after going sideways. I will enter short around 82.7/8 ish but
UnknownUnicorn772665
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@fali4209, Why would you short it at a lower price than current market price if you think it is going higher?
fali4209
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@Charlieab94, scalping bro
BannaKhan
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Nice idea but price action is comfortably sitting above 50 EMA. Wouldn't you be bullish unless it breaks below 50EMA with a bearish engulfing candle?
I'm looking to go long should this current 4h candle engulfs the previous one with a bullish engulfing candle and continue go higher.
UnknownUnicorn772665
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@BannaKhan, Nice! Well if your strategy says go long then I would go long :)
@Charlieab94, I didn't take any trade on this pair as yet. As mentioned in my last comment, last 4h candle didn't close as a bullish engulfing while still above 50 EMA. I'm on the sidelines for time being until I see a clear direction but good luck with your trade nonetheless.