HiTech
Short

CADJPY FALL CONTINUES

FX:CADJPY   Canadian Dollar/Japanese Yen
489 11 5
CADJPY             broke below the ascending channel and later rejected 38.2% Fibs resistance. I'd expect it to move lower to hit 0% Fibs area near 88.80. This drop should not take longer than 48 hours.
by the way this is a revenge trading of this idea :)))
CADJPY UP TO FIBS

when target is clearly hit, it means major trend is in the opposite direction
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Stopped by that spike? :(
This one looks like might pay off!
+1 Reply
HiTech PRO IvanLabrie
Well it didn't stop me since I closed earlier, but the idea didn't work out. Key support (stop loss level) broken and clean bounce of the target indicates there is strong trend down... besides, my strategy told me to sell :)
+1 Reply
Great, good to be flexible.
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HiTech PRO IvanLabrie
haha, just following the rules
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are you in Ivan? or have related idea?
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S&P500 short. Same deal, it's what's driving this.
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HiTech PRO IvanLabrie
Is there a strong correlation of CADJPY and SP?
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snapshot

Yen carry trade unwind.
+1 Reply
HiTech PRO IvanLabrie
Oh yea I see that, recently qite correlated
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another opportunity to short..... current price (89.93) is a good entry point it seems
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