VitruvianTrader
Long

CADJPY Bullish Analysis Buy Low!!!

FX:CADJPY   Canadian Dollar/Japanese Yen
We are once again in the structure zones of 5+ year lows.
Good risk/reward opportunity to buy cheap here.
Trade closed: target reached: Out + 70 pips, will sit out the volatility
Comment:
snapshot


Back in at 76.32
Comment: + 40 pips and moving. Are you with me??
Comment:
snapshot


Might be a good area to get involved or add to position. I have added some size, stops are at 77.00 , 70 pips are secured
Trade closed: stop reached: Stopped out on second position
is this still valid?
Reply
Yes I re-entered at 76.30 AND at 76.20. You can maybe wait for a double bottom, or a retest of the dotted black trend line, or a consolidation/flag structure on the 1 hour or 30 min, looking for an opportunity to get involved. Since we are coming off lows for this decade, I am thinking more long term, so I will def. keep adding to my position as I get more bullish confirmation. Will post again when I add to my position next.
Reply
MrLatchman VitruvianTrader
thanks for the fast reply.. i will follow this as it looks like an amazing trade.. please keep us updated.
Reply
Anytime sir, will do.
Reply
put SL 10 pips under that recent daily low ?
Reply
VitruvianTrader lehongphuong999
For me SL has to be below the structure low, which happened on Brexit I believe. This is where the green rectangle begins around 76.00
Reply
lehongphuong999 VitruvianTrader
i just long and SL 12 pips under brexit low . hope it up @@
Reply
VitruvianTrader lehongphuong999
We have some strong support, lets see if we hold! If we do, there is a lot of room to go up from here, just like post-Brexit. If we don't, and we break the strong support level, it will be pretty big deal and we can look for opportunities to go short. Goodluck!
Reply
lehongphuong999 VitruvianTrader
i just out with +1 pips . it should be nicer to wait out for price action and better strategy . thanks for sharing your idea . cheers
Reply
lehongphuong999 lehongphuong999
i'll wait for candlestick formation around this level to enter long again !
Reply
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