Bigger Downtrend on CADJPY

13 нояб. 2018 г.

Situation:
As we can see, CADJPY has been on a downtrend for 5 days. After ending the yellow trend, we can now see even bigger moves. A Potential bigger downtrend is forming.

Plan:
Short the forming downtrend with SL at the last lower high.

15 нояб. 2018 г.

Заявка отменена

Although, out shortingcondition met, I decided not to do so.
If you want to trade a trend, you have to make sure, that you can see it with your bare eye. If not, it may be matching all the mathematicla criteria for a trend, but it may fail because other market participants fail to recognize the trend.