Canadian Dollar / Japanese Yen
Long
Updated

CadJpy Trade Idea

173
I personally just went long on CJ for a 1:3rr. On OCT 5th I spoke about the pair either respecting the range and crashing back down below 108.140 or continue with bullish structures breaking out the range possibly giving us longs for the week. Price ended up retesting both 108.140 and 108.800 where we than had a break of structure on the 15m confirming longs for me. I have stops just below structure with targets being around the last previous high. If all goes well we could even expect price to tap back into 109.800.
Trade closed manually
Held the trade until price came back down. Once price came back to the retest we had a small push back to the upside where I then decided to move my stops to entry. I ended up breaking even on this trade.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.