CADJPY 390PIP SHORT!
Updated
Hello Traders, today we have ourselves a lovely 
CADJPY short.
Confluences:
With this lovely trade we have ourselves a 9.75 R:R (Risk:Reward) which is a amazing return for the risk.
This short has a larger risk than usual to prevent being stopped out at the next structure level which the price may react from.
Economical Data:
Oil panic within the UK, may lead CAD to increase in value due to higher demand as oil & CAD correlate, this is a factor we must be aware of.
What is Correlation?
If you would like to learn what this is, I have attached an educational post below where you can see the correlation between currencies, metals and oil .
Please remember to like and follow for more ideas like this!
CADJPY short.Confluences:
- Structure level
- 3rd Trendline touch
With this lovely trade we have ourselves a 9.75 R:R (Risk:Reward) which is a amazing return for the risk.
This short has a larger risk than usual to prevent being stopped out at the next structure level which the price may react from.
Economical Data:
Oil panic within the UK, may lead CAD to increase in value due to higher demand as oil & CAD correlate, this is a factor we must be aware of.
What is Correlation?
If you would like to learn what this is, I have attached an educational post below where you can see the correlation between currencies, metals and oil .
Please remember to like and follow for more ideas like this!
Trade closed: stop reached
Stop Loss Hit CAD is to strong breaching resistance due to increasing price in oil as mentioned above. Continuing to look for an entry 👀
Want more chart ups like this? Click the links below:
VIP Telegram: t.me/MMFX_VIPbot
FREE Telegram: t.me/MMFX_FREE
Instagram: instagram.com/mmfx__j/
VIP Telegram: t.me/MMFX_VIPbot
FREE Telegram: t.me/MMFX_FREE
Instagram: instagram.com/mmfx__j/
Related publications
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.