This CADJPY live trade which has captured more than 200 pips was an exploitation of repetitive marketdynamics. CADJPY has been consolidating since the peak of the rally back in December 2016. The consolidation has shown all the signs of a downtrend with lower highs and lower lows. See image below.
Entry was made using the dynamic zone approach which we stick to religiously. Once the dynamic zones have been identified it is still even more important to know how and when to enter. To learn more about dynamic zones and entry methods that are a perfect match click here.
Note that although targets are mapped out, all trades are manually closed. This is simple because brokers and their platforms cannot be trusted when it comes to acknowledging TP and stops.
This trade will be closed by the end of the trading day and profits have now been locked at the target price, should the market continue to fall further. Below is the trade on MT4.