Short CADJPY Longterm Based on Daily, Weekly + Monthly TF Charts

is in a major support/resistance zone. Although there is room for further up movement, the risk:reward is not preferable for me. As we approach the resistance I will look for confirmation to short this pair with a long-term potential for 500 pips.

This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.

Please comment below and Like if you agree with my analysis.

Trade active

Closed 1 position with 140 pips profit. Trailing my stop loss a little closer.

Note

I have been thinking about closing this trade off since Friday but I was expecting a pull back before a big push down, I have therefore decided to keep this open. My stop is well in profit and we've banked 140pips on the first position.

Trade closed: target reached

Closing second position now ahead of the weekend at 230pips, a total profit of 370 pips banked on this trade. Have a good weekend everyone :)

AEFX786

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Disclaimer: I do not take all of the trades I publish.

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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.

AEFX786

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