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!
Note
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.Note
this trade is 1.67% risk and i also have another 1% risk in at 105.51 entry, 107.31 stopNote
moving stop to 107.558Note
stop moved to 108.429 for the time being as i want to see how earnings affect stocks this weekNote
taken this out at 105.7Note
0.738% loss
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.