FX:CADJPY   Canadian Dollar/Japanese Yen
333 5 2
this pair is very clear. should turn higher towards 100 and 104
ForceFollower
2 years ago
Isn't it too short for a wave C to call it done? I thought the wave C should be five-legged?
Reply
traderWgun ForceFollower
2 years ago
correct, this is how I counted out wave C
snapshot


It could also be that we are in wave 4 correction and would see more downside.
Reply
ForceFollower traderWgun
2 years ago
I see. Thank you. On a weekly chart one couldn't see those wavelets that made up your wave c. Now I see it well.Yes, it looks like a potential start of the larger wave 5. It's just the wave b seems to be too extended in time vs. this wave c. But the wave c looks commensurate to wave a, so your scenario looks perfectly fine.
Reply
traderWgun
2 years ago
Here is the 4H count, showing the correct wave count. Price bounce off the equal legs
snapshot
Reply
traderWgun
2 years ago
I have covered my longs for a small profit. Looks like the market will see more downside.

This upmove has been choppy and can be called corrective, but could also be wave 1
within a bigger recovery
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out