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I want to have a short analysis on my favourite pair, CADJPY here.

Daily chart above just shows that price bounced off the daily trendline that is been in play from August.

But in the H4 chart there is another trendline indicates price is bouncing in a triangle right now.
I like the H4 trendline to be broken and I will go short there. 81.15 and 80.60 are good profit targets.
One of the readers just asked me how I exactly act with broken trendlines, I want to show you an example:

Assume that the trendline is broken and now there are two assumptions here; 1) A bearish candle closed at point A 2) A bearish candle close at point B
In these cases I will find best stop and profit targets ...

[FONT=verdana]Good day forex trading koalas![/FONT]

[FONT=verdana]In the previous review we noted that the EUR/USD was taking a hit due to the Irish bailout. While the action suggests the continued commitment of the Euro Zone to combat the spread of such deficit issues, investors are worried about the future. Will there be a third bailout? Moody’s Investors Service warned about a likely downgrade of several levels of Ireland's credit and the market was definitely not taking it well.

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There is a great deal of information on the internet purported to “make people rich.” Regardless of the industry in which the “get rich quick” claims are made – rarely, if ever, can you count on such claims to be true! From the wise words of my father, “if it sounds to good to be true….it is!”
Forex is no different. Be wary of training materials that have the “special software solution, trading strategy, or perfect research that IS THE ANSWER to give you a leading edge and make you rich!” Learning to trade takes time. You will not be a success over night. Like an athlete training for a marathon, great traders are trained and devoted to trading as a profession.
How long will it take you? We are all unique. There is no ...

GBPUSD has reached an important level in the four hour chart, you can see it here:

Green trendline now acts as a support line and I expect a bounce here before falling more.
So you can take profit some of your shorts here. I will look carefully at the current hourly candle, if it closed below 1.5929 then I won’t go long but if it bounced off that trendline I will go long with a tight stop.
CADJPY is the same as GBPUSD and it bounced off the hourly trendline.

I’m currently short these two pairs but I took some profit here and I will wait for a good confirmation to go long here.

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