Monday August 28 at 11:15 ET
The confidence level on our short trade on CAD/JPY is medium low. So conservative traders are advised to exit their short positions at 105.30 - 105.35 taking about 40 pips profit. It would not be surprising if CAD/JPY rose again to 106.00 or higher, or it could continue down if USD/JPY nosedives.
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Previous trade signal:
TS#156A Sell CAD/JPY at 105.80 to 105.90 <hr style="color: rgb(209, 209, 225);" size="1"> <!-- / icon and title --><!-- message --> Friday August 25 13:00 ET
At 9:45 ET CAD/JPY presented the perfect configuration for a short as a probable top of a long downtrend. The price then was 106.00. This was the second time it had risen to approximately this figure, thereby completing the Elliott Wave set. This completed another wave up that we had not accounted for in our previous short signal. There may be another short entry opportunity if it rises to about 105.80 to 105.90.
TS#156A Sell CAD/JPY at 105.80 to 105.90
Stop is 106.10
Target #1 is 103.50
Target #2 is 103.00
Risk is 40 to 50 pips
Reward is min. 170 to 220 pips
Reward : Risk Ratio is 3.4 to 1 or 5.5 to 1 , depending on the entry price and target met.
For research purposes only.
The confidence level on our short trade on CAD/JPY is medium low. So conservative traders are advised to exit their short positions at 105.30 - 105.35 taking about 40 pips profit. It would not be surprising if CAD/JPY rose again to 106.00 or higher, or it could continue down if USD/JPY nosedives.
________________________________________
Previous trade signal:
TS#156A Sell CAD/JPY at 105.80 to 105.90 <hr style="color: rgb(209, 209, 225);" size="1"> <!-- / icon and title --><!-- message --> Friday August 25 13:00 ET
At 9:45 ET CAD/JPY presented the perfect configuration for a short as a probable top of a long downtrend. The price then was 106.00. This was the second time it had risen to approximately this figure, thereby completing the Elliott Wave set. This completed another wave up that we had not accounted for in our previous short signal. There may be another short entry opportunity if it rises to about 105.80 to 105.90.
TS#156A Sell CAD/JPY at 105.80 to 105.90
Stop is 106.10
Target #1 is 103.50
Target #2 is 103.00
Risk is 40 to 50 pips
Reward is min. 170 to 220 pips
Reward : Risk Ratio is 3.4 to 1 or 5.5 to 1 , depending on the entry price and target met.
For research purposes only.