The currency pair CAD/JPY on Daily chart made a very strong upward movement in many consecutive Bullish Daily candles and the price moved away to over 150 pips from 10 EMA. Yesterday we had a Bearish candle that broke the bottom of the last Bullish candle. Today, our STS_MA_Distance_Indicator showed 100 pips distance to 10 EMA. We loaded our STS_MA_Distance_Bot to open short positions on the M5 chart each time the price moved 10 or more pips away from 10 EMA on the M5 chart. Today is Friday, end of the week, and we expected, because of the above arguments, the price to make a second Bearish candle in the direction of 10 EMA. At the moment, we have not yet reached 10 EMA, our positions are at a safe distance and because of that we protected them with a stop at zero risk.
Visit our Forex Signals section to receive real-time trades from our Trading Robots. Get your FREE Forex Signals Plan now and follow our Forex Trading Signals for 30 days absolutely free.
Learn more about the strategy here: https://smarttradingsoftware.com/en/trading-strategies/ma-distance-strategy/
See how the Robot works: https://smarttradingsoftware.com/en/expert-advisors/prd/sts-ma-distance-bot/
