Hello Traders, today we have ourselves a lovely
CADJPY
short.
Confluences:
With this lovely trade we have ourselves a 9.75 R:R (Risk:Reward) which is a amazing return for the risk.
This short has a larger risk than usual to prevent being stopped out at the next structure level which the price may react from.
Economical Data:
Oil panic within the UK, may lead CAD to increase in value due to higher demand as oil & CAD correlate, this is a factor we must be aware of.
What is Correlation?
If you would like to learn what this is, I have attached an educational post below where you can see the correlation between currencies, metals and oil .
Please remember to like and follow for more ideas like this!
CADJPY
short. Confluences:
- Structure level
- 3rd Trendline touch
With this lovely trade we have ourselves a 9.75 R:R (Risk:Reward) which is a amazing return for the risk.
This short has a larger risk than usual to prevent being stopped out at the next structure level which the price may react from.
Economical Data:
Oil panic within the UK, may lead CAD to increase in value due to higher demand as oil & CAD correlate, this is a factor we must be aware of.
What is Correlation?
If you would like to learn what this is, I have attached an educational post below where you can see the correlation between currencies, metals and oil .
Please remember to like and follow for more ideas like this!
Trade fechado: stop atingido:
Stop Loss Hit CAD is to strong breaching resistance due to increasing price in oil as mentioned above. Continuing to look for an entry 👀
Want more chart ups like this? Click the links below:
VIP Telegram: t.me/MMFX_VIPbot
FREE Telegram: t.me/MMFX_FREE
Instagram: www.instagram.com/mmfx__j/
VIP Telegram: t.me/MMFX_VIPbot
FREE Telegram: t.me/MMFX_FREE
Instagram: www.instagram.com/mmfx__j/
