CADJPY - Possible Reversal

Jan 17, 2023

In Elliott Wave, running flats are almost non-existent, or extremely rare.

If you run into one, then the direction is unlikely to continue.

We are at point D now. Looking for price to fail here and run opposite, then breakout.

Good luck!

Feb 2, 2023

Trade active

Played out so far. Entered long.

Feb 3, 2023

Note

Stopped out by 5 pips before the reversal.

Trade idea is still intact though. Looking for retrace entry next week.

Feb 6, 2023

Note

Game plan forward.

Market structure break. Will take a long if price comes back to or near the H4 breaker.

Feb 9, 2023

Note

Retest of broken trend and it seems to be holding at previous wave 4. Possible area for a long.

Feb 10, 2023

Note

Ok, came back to the breaker eventually. Going long. Make or break area here.

Feb 15, 2023

Trade closed manually

Closed ahead of target.