CADJPY reversed from strong resistance

2021年4月7日

CADJPY has come to a strong resistance trendline from 2007 and reversed. Looking for a drop to strong support from January 2009. It the support breaks, expecting downward correction to strong support from May 2013 near 83.375.

Will be watching for initial test of 1W 8 EMA near 86.250 and test of the 2009 support line.

2021年4月7日

交易進行

Entered trade@ 86.908
TP1: 86.643
TP2: 86.315

Expecting a retracement around 86.200. Will enter additional short trades based on price action at the time.

2021年4月8日

註釋

Good move down today (8th April). Price is struggling at 86.580 support level. TP1 achieve and closed 50% of positions. The rest are are at break even.

If price continues to retrace will look for new sells at rejection of 87.500 MM area.