Tradingthechannel
Long

Update on CADJPY 4HR trade from Sep 11

FX:CADJPY   Canadian Dollar / Japanese Yen
Hi

Please find a trade update on our 4HR long. Here is the original post:

We have a new long trade on the CADJPY 0.00% 4HR since all 3 the requirements for the confirmation of the trend change has been met.

Entry: 84.82
Profit 1: 85.39
Trailing: 114

We will only close half a position at our first profit target and then adjust the stop.

Sep 12
Comment: We've reached our first profit target at 85.39, Closed half the position and moved stop to entry. This is a risk free trade now. Hopefully we can go a bit further


The market has continued to rise and we will be booking another profit around the 86.40 area. I have also updated the trend lines (channels). Trailing stop for now is still 114 points.
Comment: The market has moved outside of our trend channel and this means we need to adjust our stop to 85.50. Hopefully the market is just consolidating for a short period before we move higher.
Trade closed manually
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