CADJPY Short Trade Idea
Interesting foramtion provided by CJ. It seems to be forming an expanding ending diagonal to complete the major degree's
wave C. The confluence in this trade idea is driven by the 5 wave impulse structure for an ordinary wave C and the diagonal
pattern which also consists of 5 waves. The reason my target is so far down is that in an expanding wedge, the 5th wave is
usually the strongest of them all. Looking forward to how this trade will play out.
Let me know if you've got any views on CJ for the upcoming week. I would highly appreciate the opportunity to learn from your
works as well.
Targets:
-81.114
-80.970
wave C. The confluence in this trade idea is driven by the 5 wave impulse structure for an ordinary wave C and the diagonal
pattern which also consists of 5 waves. The reason my target is so far down is that in an expanding wedge, the 5th wave is
usually the strongest of them all. Looking forward to how this trade will play out.
Let me know if you've got any views on CJ for the upcoming week. I would highly appreciate the opportunity to learn from your
works as well.
Targets:
-81.114
-80.970
Trade active
Lovely opportunity to re-enter CadJpy.
Note
Stop losses moved to break even. Now we watch.
Trade closed: target reached
Target 1 Hit
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.