Update of the post cad/jpy How to use Trailing stops

First I would like to mention to my followers about the chart I posted Few days ago, Where I mention How to Use trail stops. Take a look at the chart here

Hi traders! IF you watch my blog regularly then You might have notice that I am consitently looking for something that has logic and I have clear all the doubts in almost every post. This is an updated post of the chart I posted on Wednesday last week, where I cover technique of "How to use Trail Stops" in trading and Today ahead of BOJ rate statement and Big impact day tomorrow, I am looking to wind up all the positions, and will look to enter again If an entry will be offered, and High volatility is expected in next two days, as traders are expecting too much from Banks but getting almost nothing.

Updated chart of Cad/jpy

Pair is still in strong demand and background has not seen any strong sell-off and whatever selling we have seen was against the "strong Holders" and immediate buying is strong sign of demand coming up again on daily lows, and one strong sign is when ever pair face sell-off it went to make a new high and it happen almost on every sell-off.

When you see such behavior you should be looking to remain in the trade for long time than expected but big news can create risk in the market and We should respect this situations and sit aside and see what happens and then we should trade our levels and ignore everything else

How to cover or trail the position

It is very important aspect of trading and it is must to use "Trailing stop", specially when price rallied right after you open the position and those who don't check my earlier post then take a look at this chart.

Update of the chart of cad/jpy I posted yesterday

As I mentioned in my previous posts that it is necessary to understand the logic and when you have few points that cover you entry and force you to enter the trade then it becomes important that you ride the most part of the trend, specially when trend is as stronger as I have mentioned yesterday.

I have booked half of my profits in that trade and as price has shifted equilibrium then there is good chance that it carry the momentum through out the day but even I would be stopped out, there would no regret as It is planned well before the event has taken place