Tuesday, October 30, 2012

CADJPY Channel Trade

myfxvoyage.blogspot.com CADJPY Channel Trade
I have traded this pair previously on M30 timeframe. Details [here].

Now another trade setup is coming up in H4 timeframe. Price is following up in a descending channel and has just rebounded from the channel's lower trendline. 

200EMA is coming up at 79.96 just above current price. I plan to go long if pair touches the lower trendlien again with a stop loss below lower trendline.

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