CADJPY - Get Ready to Short!
Updated
Hi Fellow Traders,
CADJPY is the cleanest chart I see this week (of Jan 29th). I am looking for a short as shown on the chart. Note that last Friday's daily is a pinbar, but I wouldn't chase the short if price goes south at open. It would be safer to short from the upper trendline. BOJ rate and conference are on Monday, so we expect to see result soon.
CADJPY is the cleanest chart I see this week (of Jan 29th). I am looking for a short as shown on the chart. Note that last Friday's daily is a pinbar, but I wouldn't chase the short if price goes south at open. It would be safer to short from the upper trendline. BOJ rate and conference are on Monday, so we expect to see result soon.
Note
Looks like traders did not wait for touch of trendline to short. Right now price is in middle of nowhere. I will wait for reaction after BOJ.(Note to self: On hindsight last Friday's pinbar top at close to a round number 88.0 and close to the top of the trend. Today's price action is typical after a pinbar.)
Note
BOJ was a no event. The low of the price for today almost reach TP1. I missed the train. I won't chase the short, but looking for long from TP1 or TP2. End of trade idea.
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