Great Example To Understand Waves

FX:CADJPY   Canadian Dollar / Japanese Yen
706 13 32
Wave patterns repeat in any chart over and over again. This daily CADJPY             is a great example of this process. Price is in a corrective structure and has broken above a short term downtrend with a sharp move. We should wait for a correction and buy the market aiming to the long term downtrend. At that level we should watch for a sell setup and ideally should wait for this overall correction to be over with a breakout below it.
what we expect now a move or a broken trend .?
We have to wait.. If we see a breaout below just wait for a correction and sell depending your strategy.. I will update if we have a setup..
+1 Reply
Hiisham Fxprotrader
depending in my strategie I'm expect a correction up
Amazing sir!!
Fxprotrader guti142008
Thank you sir!
I don't think so! I m looking for a buy setup!
Fxprotrader Zohaib_Malik
Perhaps you didn't looked my chart carefully.. I have described a potential buy setup first before looking for a sell. Price is moving up sideways which makes me believe that this is a correction and a new impulse is coming. Thanks for your chart, it looks very good. Have a nice trading week!
Zohaib_Malik Fxprotrader
Yeah I saw but I can't edit the comment!
Fxprotrader Zohaib_Malik
Ok no problem at all.. Thanks for your comments..!
perfect analysis !
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