TradingTipster
Short

5 wave sequence in CADJPY

FX:CADJPY   Canadian Dollar / Japanese Yen
21 0 0
Someone has probably already spotted this trade but the basic 5 wave sequence is apparently forming in CADJPY             . As you can see wave 2 retraces to the 38.2% level of the first wave and wave 4 retraces to the 61.8% level of the 3rd wave. The 3rd wave is also the 200% expansion of the first wave. My target (wave 5) would be the 127% expansion of wave 5 seeing as how the 5th wave is supposed to be the short.
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