CADJPY: Example of Short Trade from Resistance
The daily chart looks bearish. The price reached the resistance and we can expect a reversal with a further downward movement toward the support.
If we look at the 1H chart, we can see that the price bounced from 81.50 resistance and broker SMA50. It gives us a trade opportunity for shorting.
I share with you an example of a possible short trade.
If the price reaches SMA200, it will be a good idea to fix the part of profit and move stop orders to the breakeven. Risk per trade must be no more than 1-2% of the capital.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
If we look at the 1H chart, we can see that the price bounced from 81.50 resistance and broker SMA50. It gives us a trade opportunity for shorting.
I share with you an example of a possible short trade.
If the price reaches SMA200, it will be a good idea to fix the part of profit and move stop orders to the breakeven. Risk per trade must be no more than 1-2% of the capital.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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