T9 – CAD/JPY

ENTRY

downloaddownload (1)download (2).png

Daily // 4H // 1H // 30mins

Analysis

Support & Resistance // Trend Lines & Channels // 21&50 Moving Averages // Elliot Waves // Multiple Timeframe Reference // Fibonacci Levels

get context for the set-up

Major pullback on the daily has ended after the bounce off the 61.8% level which was also the previous break out point. A coil has formed entering the TAZ, continuation expected.

Criteria

TREND on entry timeframe Determined by 21&50+C SMA if subjective (✓)

ADX>25 registered on impulse wave (✓) ADX40

Low volatility when keying order Area of value (✓)

Continuation/Correction/Consolidation/Coil Structure

Flag // Pennant // Wedge // Triangle // Rectangle

Simple Retracement [Fibonacci 50% // S&R Zone // 2150 TAZ]

Falling Rising Wedge // Complexed ABC pullback

Higher Timeframe Inside Bar

Orders

Entry @ Break of Structure // Area of Value + Candlesticks

Stop Loss @ +1ATR away from last wick // 50 SMA as guide

Take Profit @ Length of Prior Impulse // Next Area of Value

1% capital risked for potentially 2R

Open: 83.2 | Stop loss: 82.76 (-44 points) | Take Profit: 84.1 (+90 points)

Remarks:

MANAGEMENT

Risk Halved

Shift to Break Even

Securing xR

EXIT

download

Initial Stop Loss

Manual. Reason:

Trailing Stop

Take Profit

Remarks: Seems like volatility kicked the trade out. Unfortunate, but let’s see.

Advertisements