Hello everyone, presenting a high-probability short setup on the CAD/JPY 1-hour timeframe.
The core of this idea is the recent, decisive break of a long-standing ascending trendline. This indicates that the bullish momentum has faded, and sellers may be taking control.
The Plan:
I am not entering the market immediately. Instead, I am waiting for the price to pull back into the entry zone defined by the 0.5 - 0.618 Fibonacci retracement levels (the "golden pocket").
This is a setup to add to your watchlist. I will post an update using the "Trading: active" status if and when the trade is triggered.
Trade Parameters:
🛡️ Pro tips for this trade:
⚠️ Risk only 0.5~1% per trade.
📉 Secure profits at TP1 (50%) and go risk-free!
If you enjoy my charts, hit Boost🚀👍, share your views in the comments 🗨️, and let’s crush those markets! 💹✨
The core of this idea is the recent, decisive break of a long-standing ascending trendline. This indicates that the bullish momentum has faded, and sellers may be taking control.
The Plan:
I am not entering the market immediately. Instead, I am waiting for the price to pull back into the entry zone defined by the 0.5 - 0.618 Fibonacci retracement levels (the "golden pocket").
This is a setup to add to your watchlist. I will post an update using the "Trading: active" status if and when the trade is triggered.
Trade Parameters:
- Entry Zone: ~105.75 - 105.85
- Stop Loss (SL): ~106.30 (Above the swing high)
- Take Profit (TP) Targets: Marked on the chart.
🛡️ Pro tips for this trade:
⚠️ Risk only 0.5~1% per trade.
📉 Secure profits at TP1 (50%) and go risk-free!
If you enjoy my charts, hit Boost🚀👍, share your views in the comments 🗨️, and let’s crush those markets! 💹✨
Trade active
You can choose between CADJPY or NZDJPY. Don't take too many risks.Trade closed: target reached
🔥 UPDATE: TRADE CLOSED! TARGET HIT! 🔥Our CAD/JPY Short setup successfully reached its TP_3 target! 🎯
A fantastic +2 R profit is now in the bag, achieving an impressive 1:2 Risk/Reward.
This was a classic trendline break and retest that played out beautifully. Thanks for following along!
If you banked profits with us on this one, hit Boost🚀👍 and share your thoughts in the comments! 🗨️
FOLLOW for more high-probability setups! 💹✨
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.
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.