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Deon_van_der_Merwe

Short setup on CADJPY

Short
Canadian Dollar / Japanese Yen (OANDA:CADJPY)  
Deon_van_der_Merwe Updated   
OANDA:CADJPY   Canadian Dollar / Japanese Yen
Trend Analysis Wave Analysis
3
0
trendanalysis waveanalysis
After a very sharp down movement due to FOMC news last week we did expect price to retrace and give us a good shorting opportunity. Based on the rule of alternation described by EW we do expect price to retrace 61.8% of the third wave down. This is where the entry is at. If it does not retrace to that price I will share with you a DNA system setup on the way down.
Trade closed: target reached:
Frustrating trade but worked out at the end.
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