December 12

UPDATE: LT CADJPY TRADE FROM 8/15/2012

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Back on August 15th, 2012 We began building a Long Term Long trade on the CADJPY. We built into 3 units at an average price of 79.10 and a stop of 78.50 which is shown on the chart by the thick green line. We watched it consolidate for 3 months. On November 15th the trade finally broke out and continues to surge today. With the elections coming up in Japan it looks like the LDP party will win and this will mean a fundamental change in monetary policy and could mean that this trend we see now could last well into next year. Right now we are retesting the 84.70 highs made in March of 2012. Shorter term traders should sell 1 unit here for a 550 pip gain. We can look to buy it back on the next pullback or a break and hold of 84.70 for a few hours or so.

Here is the chart

 

 

If you would like to learn how to use our ichimoku multi timeframe heatmap signal, go to www.ichimokutrade.com

 

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