empty
 
 
29.04.2021 12:30 PM
Trading idea for CAD/JPY

This image is no longer relevant

CAD / JPY soared and hit a new all-time high, above 88.2.

Taking this into account, bearish traders can work for a pullback by following this strategy:

This image is no longer relevant

Since the pair broke another resistance level, players can place new sell limits at every 50 pips. Select the volume in such a way that 300-500 pip movements can be sit out. Then, take profit as soon as the quote hits 85.4.

Of course, it is important to be careful so that we can prevent any losses. Remember that trading is precarious, but profitable if the approach used is correct.

Good luck!

Andrey Shevchenko,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback