In this set up it looks to be one where there are gains to be made on both the up swing and down
Taking a look at this trade, a retracement from an impulse and I am looking to catch the wave 5 down to at least the end of wave 3
I am looking to take some buys and sells in this potential pattern
Longer term cadjpy looks bullish, so I am going to trade this upswing from ((X)) to ((Y)) as a buy.
This is my view on the GBPJPY, I am shorting down to the (2) area. This trade is going with the impulse wave from (ii) to (iii). Being as the higher degree of (1) to (2) is a corrective pattern this is counter trend from that stand point, it is better to wait and buy later at (2) and catch the up trend, however I am going to do a small short at (ii) and ride it...
Here is my trade idea for June 17 2018
This is in addition to my hourly and 240 forecast
USDCAD seems to be at the end of wave 5 and a correction should take place. Being as this looks like the end of ((Y)) and soon to be the start of ((X)) which would likely go to 1.295 area, then taking a trade on this one I am breaking down to an Risk Reward of: Current Price: $1.32 Forecast end of next wave: $1.295 Difference: $0.0250 or in other words 250...
This is a trade idea