CADJPY Short: Better Entry Against TL Resistance (EW Count)

FX:CADJPY   Canadian Dollar / Japanese Yen
Hey Traders! After taking a low-risk, high reward attempt on a potentially completed correction, CADJPY             has dipped further into its corrective structure. Now, we have a better probability trade while still maintaining a high R/R. Also, a Bat is complete and may add to bearish biais. SL is placed above invalidation level. If TL resistance fails and price rallies higher, its likely to continue to rally and I will be out of the short and looking for more signals. Happpy trading!
Trade active
Comment: Hey traders, Stop Moved to B/E on this one

Comment: Down! Down! Down she goes! Here's an updated EW count. Current status is +62.5 Pips with a snapshot R/R of 7:1. Enjoy!

Trade closed: target reached: BIG WIN. I'm taking profit now at +186 pips. On to the next one!
Hi Glen, thanks for the awesome setup.

I got in at 77.37. Probably a few pips off from your entry.

My SL is at 77.55
+1 Reply
No problem Hanu, glad you found it helful. Cheers!
It started, but I don't know I your SL triggered... Can you approximate the pips you are trying to reach ?
glennmercer BabasNumbaOne
SL did not trigger. I account for spread when I take trades on my account. Target is 164 pips. Cheers
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