IvanLabrie
Short

CADJPY: 3 short entries possible

FX:CADJPY   Canadian Dollar/Japanese Yen
459 18 14
Analysis on chart, the pair shows a strong downtrend and rgmov prints lower lows while price doesn't.
This is bearish .
Also, price is forming modes lower, validating the downtrend.
Split the entry in 3 parts risking 1/3 of your desired exposure to this trade on each.
TP when target is hit, but you can cover 50-75% once the distance to the stop is reached to make the trade risk free.
Shout out to Anil Mangal for making me look this way.
Good luck,
Ivan.
If you're interested in joining my trading newsletter or private lessons, message me. I trade Forex, Equities and Commodities. Contact: skype @ ivanlabrie, PM here or QQ (2954487803). KHL telegram group: https://t.me/joinchat/AAAAAAqHRWYvrLlfpF0StA
HiTech PRO
2 years ago
I think its a well spotted opportunity, I am looking more and CHFJPY but still have no clear signal. CAD itself could be the mover in this pair.
+1 Reply
IvanLabrie PRO HiTech
2 years ago
I'm already short nzdjpy, but long usdjpy at the same time. (which makes it equivalent to being short nzdusd).
I think it has another strong leg down at least, the targets and/or channel bottom should be achievable.
+1 Reply
HiTech PRO IvanLabrie
2 years ago
AUD is very weak, so NZD could follow, from what I can see
+1 Reply
HiTech PRO
2 years ago
oh and there are two targets I have in mind for CADJPY
1---- 92.70
2.--- 89.80

My first target corresponds with yours :) good luck
+1 Reply
IvanLabrie PRO HiTech
2 years ago
Thanks! Same to you.
+1 Reply
IvanLabrie PRO
2 years ago
Entry #1 filled. Sold short under a daily low.
Waiting to see if I get a fill on any of the rest, would be nice.
Today is a BIG NY data day:

09:30 1h 10m US USD Consumer Price Index Ex Food & Energy (MoM) (Jun) 2 0.2% 0.1%
09:30 1h 10m US USD Consumer Price Index (YoY) (Jun) 3 0.1% 0.0%
09:30 1h 10m US USD Consumer Price Index Ex Food & Energy (YoY) (Jun) 3 1.8% 1.7%
09:30 1h 10m US USD Housing Starts (MoM) (May) 2 1.127M 1.036M
09:30 1h 10m US USD Building Permits (MoM) (May) 2 1.104M 1.250M Revised from 1.275M
09:30 1h 10m US USD Consumer Price Index Core s.a (Jun) 1 241.76
09:30 1h 10m US USD Consumer Price Index (MoM) (Jun) 2 0.4%
09:30 1h 10m US USD Consumer Price Index n.s.a (MoM) (Jun) 1 238.67 237.81
09:30 1h 10m CA CAD Consumer Price Index (MoM) (Jun) 2 0.3% 0.6%
09:30 1h 10m CA CAD Bank of Canada Consumer Price Index Core (MoM) (Jun) 2 -0.1% 0.4%
09:30 1h 10m CA CAD Bank of Canada Consumer Price Index Core (YoY) (Jun) 3 2.2% 2.2%
09:30 1h 10m CA CAD Consumer Price Index (YoY) (Jun) 3 1.0% 0.9%
09:30 1h 10m CA CAD Consumer Price Index - Core (MoM) (Jun) 1 0.4%
11:00 2h 40m US USD Fed's Stanley Fischer speech 2
11:00 2h 40m US USD Reuters/Michigan Consumer Sentiment Index (Jul)Preliminar 1 97.0 96.1
Reply
vaicru PRO
2 years ago
I'm agree bro !! Very Bearish
Reply
IvanLabrie PRO vaicru
2 years ago
I'll let my orders sit, low exposure.
I'll go long USDCAD too, small risk, but big r/r.
Posted the entry yesterday, not sure if you saw it.
Reply
vaicru PRO IvanLabrie
2 years ago
I dont saw it. Sorry, but i'm on holiday.
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IvanLabrie PRO
2 years ago
CADJPY is testing our patience here.
I covered my shorts at practically break even.
Waiting now.
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IvanLabrie PRO
2 years ago
The move finally started!
Now, let's watch it closely.
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IvanLabrie PRO
2 years ago
Slow but steady progress here. I'd look into covering soon, or at least moving stop to break even if short.
Reply
mcpeacocks IvanLabrie
2 years ago
pretty slow indeed. espeially with this pull back based on the good CAD numbers yesterday. lets so how she develops - Oil is continuing to drop to there should be some more downside to it, daily is showing some minor bullish divergence though. i'm looking to see what she does when testing the top slope of the triangle
snapshot
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IvanLabrie PRO
2 years ago
This one might start accelerating now.
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HiTech PRO IvanLabrie
2 years ago
agree 150%
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HiTech PRO HiTech
2 years ago
also have a look at eurcad and gbpcad, both looking very very strong
+1 Reply
Deleted
a year ago
very very nice call
Reply
IvanLabrie PRO Deleted
a year ago
Thanks.
Reply
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