Yesterday, our CADJPY position was stopped out at 111.65. The trend-changing pattern between Wave 3 and Wave 4 remains valid.
The wave that broke the Wave 3 structure extended beyond expectations, and price has now confirmed a breakdown with a second lower low on the M5 timeframe.
We have re-entered short at 111.94, with a stop loss at the high of the day (112.28).
Our target remains 110.92.
The wave that broke the Wave 3 structure extended beyond expectations, and price has now confirmed a breakdown with a second lower low on the M5 timeframe.
We have re-entered short at 111.94, with a stop loss at the high of the day (112.28).
Our target remains 110.92.
Trade closed manually
More bullish signs again! Potential for a break of the high.
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Related publications
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.