Hello Traders, today we have ourselves a lovely 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 .
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トレード終了: ストップロスに到達
Stop Loss Hit CAD is to strong breaching resistance due to increasing price in oil as mentioned above. Continuing to look for an entry 👀