CAD/JPY - LONG; Buy it up!
Updated
This should be self explanatory. The Loonie should also benefit - including for the long run! - from the global re-centralization toward NAFTA.
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Here, if lucky, one should get a 50 pip downward push (Stop Hunt)...... before this pair heads up to the R3 pivot, +300 pips higher.
Prepare to go Long here.
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... and that's how it's done! :-)Loaded up LONG on that massive Pin Bar, @96.75
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(+155 pips, so far, today)This is an opportune time for an FX Maxim:
"There is no such thing as over-bought or over-sold in the FX markets!"
Words to live by.
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This pair is starting to react here so, one may want to lighten up (quite a bit) here, for now. (Depends on how loaded one got on this move here. Yours Truly did not hold back :-)This move is obviously far from over but with the weekend coming up, ... This is just a pause for the cause.
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FLAT - for now;This is getting a little over-extended here thus, FLAT - for now - while waiting for a pullback. (Having booked +300 pips here, already, while being massively loaded :-)
This move is far from over, though! So, be ready to jump back in on a meaningful pullback.
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Comments in ChartNote
Like I said a couple of days earlier ...... "Wait for a meaningful pullback" before reloading (Long) on this one.
Trade active
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This is likely to slam down, here!Note
This is a "big one"!This is where we will be trading today.
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LONG
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We continue to load here, LONG
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This ought to be a low maintenance200 pips here.
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Loaded!!LONG
Trade closed: stop reached
Got out of the Longs with -12 pips on this break.Whether the support on the weekly here will hold? ... Doubtful but yet to be seen.
It's a wait and see.
(but at least got very(!!) Short on the USD/CAD, which broke down nicely, as well.)
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Buy it up! - LONG
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Buy it up - LONG - With tight Stops!
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This is a strong Buy (LONG) down here as long as this current low holds!
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FLAT] - for now. (-18 pips)Note
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Buy it up! - LONG
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Second chance to get on board! - LONG
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SHORT
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SHORT
Trade closed manually
With trader positioning steadily marching into ever deeper Bullish territory ...... This pair now is firmly on the Buy side!
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This is getting very close to ...... a major turn!
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This is running into some major resistance here;Start looking for Short Entries
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First attempt;Sold SHORT right here, w. 9 pip stop.
Immediate Price Target is 101.70
Trade closed: stop reached
Obviously, stopped out (-9 pips)This short squeeze is driven by the (false!) assumption that the RBC "must raise rates", and soon. (... and No, they have no reason to thus, it is rather unlikely.)
If anything, the global raw materials environment is deflationary and with China remaining a shadow of itself, at best, that's an awful big, permanent hole in the demand side of the equation. (That's without even factoring in a US recession.) So, don't drink the CoolAid and prepare to load up short on this pair, very very soon.
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Boom!!That 104.60 was the money shot - Short - on the dot!
Looking for the next 200 pips here.
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This is decisively done for!Now, if one's lucky, this will form a "right shoulder" here, just to be sure of it's long term direction.
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As this is now working on a Monthly reversal;it is decisively a long-term SHORT
Here is the Daily;
It may find a little support here, on the 50 Day Ema. Wait for a bounce before going Short.
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Not surprisingly the CADJPY;... has a very similar look to the USDJPY;
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SHORT
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