We’re fading the recent CAD/JPY rally with a sell-limit at the 38.2% retracement (≈103.60), anticipating a continuation of the larger down-impulse.
• Entry: 103.597 (Sell Limit at 38.2% fib)
• Stop Loss: 103.982 (just above 23.6% fib) → 37.5 pips / 0.36% risk → $2.70 at 0.01 lots
• Take Profit: 102.514 (78.6% extension) → 109.3 pips / 1.05% reward → $7.58 at 0.01 lots
• Risk-Reward: ≈1:2.9
The custom RSI (with its configurable moving average) is turning lower below 60, aligning momentum with a bearish bias. Position sizing is handled by the “Sniper Lot Size Calculator” to cap risk at 1% per trade. This clean, macro-to-micro approach keeps us surgical—waiting for the pullback, then striking with precision.
• Entry: 103.597 (Sell Limit at 38.2% fib)
• Stop Loss: 103.982 (just above 23.6% fib) → 37.5 pips / 0.36% risk → $2.70 at 0.01 lots
• Take Profit: 102.514 (78.6% extension) → 109.3 pips / 1.05% reward → $7.58 at 0.01 lots
• Risk-Reward: ≈1:2.9
The custom RSI (with its configurable moving average) is turning lower below 60, aligning momentum with a bearish bias. Position sizing is handled by the “Sniper Lot Size Calculator” to cap risk at 1% per trade. This clean, macro-to-micro approach keeps us surgical—waiting for the pullback, then striking with precision.
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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.