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.
Make sure that you are following me on twitter so you can be informed of any trade calls for this pair and if you found this post useful let your followers to read it too, so please retweet this article with the button above of the article.
Latest posts by admin (see all)
- Using Simple Moving Averages to clarify the Forex Market - November 13, 2017
- The Huge Benefits of Being a Scalper - November 6, 2017
- The ADX Methodology for Analysis, the Strengths and Values - November 4, 2017
Winner’s Edge Trading, as seen on: