Nice short set up on CADJPY!!
Updated
Hey guys Alex here!
Apologies for the terrible mic quality and even worse commentating (ahah), but I hope you still got my overall point.
Theres currently a lot of uncertainty in the US; *cough* Trump *cough*, and in times of relative uncertainty we often see a safe haven currency like the JPY gain some strength, as I'm sure you could see for the past 2 weeks or so.
After a 2 week push we've seen JPY bulls take a little break and a retracement, profit taking,or correction, which ever you like to call it has formed.
I do see push down resuming and am looking to enter short on the right price action, ie Doji candle or bearish engulfing. back down to the trendline that has been respected this entire year.
Hope this helps and if you have any questions or commentary please feel free to ask or share, as long as its positive.
Enjoy!
Alex
Apologies for the terrible mic quality and even worse commentating (ahah), but I hope you still got my overall point.
Theres currently a lot of uncertainty in the US; *cough* Trump *cough*, and in times of relative uncertainty we often see a safe haven currency like the JPY gain some strength, as I'm sure you could see for the past 2 weeks or so.
After a 2 week push we've seen JPY bulls take a little break and a retracement, profit taking,or correction, which ever you like to call it has formed.
I do see push down resuming and am looking to enter short on the right price action, ie Doji candle or bearish engulfing. back down to the trendline that has been respected this entire year.
Hope this helps and if you have any questions or commentary please feel free to ask or share, as long as its positive.
Enjoy!
Alex
Trade active
As we can see the market has started to push down today and the trade is now in profit. Price didn't go up as high as I would have liked but regardless i still got in around the top!
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