Fxprotrader
Short

CADJPY: End Of Correction Signals Sell Trade

FX:CADJPY   Canadian Dollar/Japanese Yen
Price broke below the corrective structure it was moving in, making us look closer for a sell setup completion. Most likely it will retrace to test the downslope median line at the same level of the broken support of the correction.

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Trade active:
snapshot
Comment: The chart that i post with the setup is a little messy, so i redraw it, so to be more clear
snapshot
Dear how to draw these central 2 lines?? What are these 2lines, please elaborate.
Reply
If you talk about the purple ones, these are slide parallels of the median line. If you talk about the dashed black ones, these represent a corrective pattern ( a channel in this situation)
Reply
arshadd Fxprotrader
Yes dear talking about median line and its parallel line... How to draw this median line , what is the refrence to draw this median line... Please don't mind if this question seems to be silly.. Because of my lack of knowledge..
Thank u for replying.
Reply
It's a little difficult to explain you how to use median lines in a comment.. The basic idea is to identify price slope and trade with it..
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arshadd Fxprotrader
Thank you.. I'll googl this
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VERY NEAT! :) thanks for sharing, I am in for this trade..
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Ok, good luck..
Reply
fxfxfx Fxprotrader
closed manually, want to wait and see what happens at 78.15 :)
Reply
Still didn't spike to down yet..
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It may consolidate in the red zone for a while..
Reply
Lacin Fxprotrader
Waiting :) Thanks a lot dear
Reply
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