Milking the Yen

Good Afternoon Dynamic Traders!

The CADJPY has been delighting in a downtrend since November 2007.

We witnessed price strike a ten year low last week followed by the expected trepidation.

The larger time frames ostentatiously flaunt a change of direction on the horizon with the monthly chart boasting a daunting spinning top.

Below is the daily chart for this cross.

Price is now sealed at a prominent breather area debating its preferred direction.

Should this resistance level persist, we may observe traders' trialling the low a second time around; a behaviour that all Dynamic Traders should be accustomed to.


cadjpy daily chart Advanced Get

The 4 hour chart (below) exhibits a trend line at which price is comfortably perched. If this is persuasively broken, the course may be confirmed.

Note mac d behaviour - smiling in appreciation.

Use you filter and BOB techniques to determine an acceptable entry for a probable flow towards the low, not forgetting the weekend is nigh.

Your personal trading rules will prove your loyalty to a suitable position.


cadjpy 4 hour chart Advanced Get

My next post will be on Saturday, reviewing recent play.

Sound Trading!

Saba Jackson