CADJPY - E: 86.419 SL: 85.620 TP : 88.240 1.54%r 2,3R
This trade is still off the BOC decision and tapering. This is a follow on from previous long CADJPY trade that I got out on break even earlier.
Entry was roughly middle of 68.2% fib of jump on BOC decision.
Entry not too bad, but significant support turned resistance at 86.65/70.
Last 2 days sell off over Asian and London Session, then North American trade comes on and CAD buying resumed.
Entry was roughly middle of 68.2% fib of jump on BOC decision.
Entry not too bad, but significant support turned resistance at 86.65/70.
Last 2 days sell off over Asian and London Session, then North American trade comes on and CAD buying resumed.
Dagangan aktif
Nota
Adding to my Swing Trading analysis with the above 4 screen same timeframe chart.Above example all are Daily.
Chart 1 = Mixed
Bullish - 4 MAs 200,100, 50, 20.
Bearish = Squeeze Momentum based on John Carter's TTM Squeeze.
Chart 2 = Bearish
Bearish - Monthly Pivot price below all week, also under weekly pivot.
Bearish - John Carters Scalper Strategy
Chart 3 - Bullish
Rising Dily trendline, 4 days.
Downward Channel staying above halfway point.
Chart 4 - Mixed
Dropped to 38.2% fib retracement, bullish would be support at 50% holding.
Mixed because it hasn't retested low as yet,
Need break above 86.80 to get out of range and push higher.
Dagangan aktif
Bullish - 4 MAs 200,100, 50, 20, found support at 86.0 and off 50 Day MA.
Bearish = Squeeze Momentum red but slowing.
SL - Move up to protect, at least below 86 as a minimum.
Nota
Also daily close above 20 Day EMA.Nota
Chart 2 = Bearish
Bullish - Strong close over the Monthly Pivot.
Bullish - John Carters Scalper Strategy - Moved to Long.
Nota
Chart 3 - Bullish
Strong Breakout upside from Channel.
Initial EMA Cross or 8/21.
Nota
Nota
161.8% around 87.60 is probably first target now.I only have small position and there is almost nothing showing that I should sell at the moment.
Nota
So want to give it some room, so will move stop only upto 85.78, a small move, but risk is reduced and lots of room. FOMC Meeting due tommorow, may impact this trade, review again tomorrow before FOMC.SL now at 85.78
Nota
Broke above 161.8% fib overnight and holding above it in early Asian trade.Nota
Moved SL up to 86.95, locking in approx 1% profit.Stop below 21 EMA in both 4 hourly and Daily.
Dagangan aktif
CAD Retail Sales in a few minutes.Market seems to be pricing in positive news, as pair right at highs for the week.
Nota
Dagangan aktif
Retail Sales came in even stronger than estimates.Core Retail Saes (MoM) (Feb) 4.8% vs 3.7%
Retail Sales (M0M) (Feb) 4.8% vs 4.0%
Should support CAD.
forexlive.com/news/!/canada-february-retail-sales-vs-40-expected-20210428
Looking for break above 88.00, might actually expect sell off, as retail sales could have been priced in.
Dagangan ditutup: sasaran tercapai
Really nice trade, with minimal drawdown.Pushed to top by retail sales and oil price I suspect.
Profit 3.4%.
Nota
Hit highs of 88.70, another 50 pips above my TP.Don't lament missed profit, trade as a good trade idea and I executed as planned.
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.