CADJPY Lower
I like trying CADJPY Lower here.
From a technical perspective we've broken a head and shoulders pattern. We've also got a shooting star on the weekly and a double top on the weekly further back as well.
I like the narrative of moving from inflation worries this year to now global growth worries, this is a similar trade to USDJPY lower but i think CADJPY will be hit more from global growth worries than USDJPY.
oil is lower, global yields are lower, risk sentiment is low, commodities are lower - this overall points to a lower CADJPY to me.
JPY short positioning is extreme.
Not trading/investment advise, feedback welcome!
From a technical perspective we've broken a head and shoulders pattern. We've also got a shooting star on the weekly and a double top on the weekly further back as well.
I like the narrative of moving from inflation worries this year to now global growth worries, this is a similar trade to USDJPY lower but i think CADJPY will be hit more from global growth worries than USDJPY.
oil is lower, global yields are lower, risk sentiment is low, commodities are lower - this overall points to a lower CADJPY to me.
JPY short positioning is extreme.
Not trading/investment advise, feedback welcome!
Nota
going to increase the stop on this one to 107.31, i think the idea still makes a lot of sense as global growth worries continue and commodities continue to fall but this has ended up being a longer term trade than i originally thought. overall risk will be 2.67% on CADJPY with my other CADJPY lower trade but i am happy with that. reason for higher stop is to avoid event risk over CAD rate decision.Nota
this trade is 1.67% risk and i also have another 1% risk in at 105.51 entry, 107.31 stopNota
moving stop to 107.558Nota
stop moved to 108.429 for the time being as i want to see how earnings affect stocks this weekNota
taken this out at 105.7Nota
0.738% loss
Aviso legal
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.