Hello Traders, I’m Mani and I’m the writer of Trade 77 section, please follow me on twitter for further updates.
Let’s have a short analysis on my favourite pair CADJPY:
We can see a channel on four hour chart above and it bounced off the upper bond trendline with a nice bearish candle rejected from there.
Short positions here are good with targets 82.30, 82.07 and 81.84 as 38.2, 50 and 61.8 fibonacci retracements respectively. Stops should be above 83.00 level.
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Winner’s Edge Trading, as seen on: