Trading Game Plan

FX Trading Game Plan – CAD/JPY & EUR/GBP

Long CAD/JPY – Good contrarian long opportunity after holding key swing point on the 4-hr and daily chart with a potentially large inverse H&S pattern. The fact that Loonie in general is holding strong despite the continued oil carnage is a bullish signal. Obviously the Election outcome on Tuesday likely has a big impact considering JPY will appreciate/depreciate if Trump / Clinton wins. But technically a good risk-reward long setup.

20161106-CADJPY-240.png

20161106-cadjpy

 

Long EUR/GBP -Only quick long scalp on the ST time frame (based on 4 hr chart) as we bought the bottom of the descending channel. Would sell on retest of broken up trend and flip to short. GBP is bullish across the board with bullish breakout of down trend, so we will look for opportunities to go long GBP pairs on dips.

20161106-eurgbp

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