Ichimoku Currency LT CADJPY Trade from 8/15/2012

Back on August 15th, 2012 We took a Long Term position on the CADJPY based on a Red line/Green line cross with a bearish fundamental outlook on the JPY. For months we consolidated until eventually breaking out in the end of November. We bought 3 units of CADJPY @ 79.10 average price. Today the CADJPY hit as high as 89.30. We will sell 2 out of 3 units here at 89.10 for a 1,000 pip profit and hold the the last unit with a stop below the green horizontal line at 84.70. We will add back those 2 lots on the next pullback…

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About the Author David Terk