We're at a horizontal resistance level and a long term trendline. We also just made two legs up from a prior congestion area. It may be a good idea to wait for a confirmation candle at least on a 1h, but i think its a good bet to short here , risking about 70-80 pips and aiming for a test down to 108.
Comment
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We're at a horizontal resistance level and near a long term trendline. We also just made two legs up from a prior congestion area. It may be a good idea to wait for a confirmation candle at least on a 1h, and the market MAY try to get closer to the TL, but i think its a good bet to short here , risking about 70-80 pips and aiming for a test down to 108.
CADJPY should start its bearish trend as well as the UJ short; do you think the CJ will drop 80-90 pips ?
thejohn74
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i would look for a swing down to 83.8 from here on CJ
keoni.seven
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are you still holding a position?
thejohn74
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No, I mismanaged this and had my trailing stop too close, so I only gained 40 pips. Mostly I am a scalper but when I see something obvious on the HTF, I may trade it.