FX:CADJPY   Canadian Dollar/Japanese Yen
160 7 0
The move up from the 90.770 low can be counted as 5 waves up or double zigzag(look below for ALT view).
While below 92.80, is possible that the market has began wave 3.

If the market takes out 92.80, the market can be doing a complex correction
or is in the start of a new bull run.

For now, I will keep an eye on that 92.80 level.
traderWgun
2 years ago
ALT view
snapshot
Reply
ForceFollower
2 years ago
A very good count. But if it's all correct, then we're not going to see new lows below your dashed line (the beginning of the wave A or 1). Interesting. We're either about to make a wave C or wave 3, which means a five-wave structure going upwards. Well, bearish as I am about this market, I must admit your study is highly plausible and I will be cautious here with my bearish outlook. Glad to be following you, traderWgun.
Reply
traderWgun ForceFollower
2 years ago
I'm glad to hear that I'm providing you with some insight.

The trend is down, so your are correct to be bearish.
But if the 92.80 level gives up I would call the trend
as neutral.

The cad showing sings across the board that it is ready to reverse
snapshot


snapshot
snapshot
snapshot


As always, thx you for your feedback.
Reply
Technician TOP traderWgun
2 years ago
thx very informative
Reply
ForceFollower traderWgun
2 years ago
Yes, a good point. The CAD may have exhausted its bearish potential. At least short-term.
Reply
traderWgun
2 years ago
#CADJPY updated count suggest we are on the verge of completing a flat
snapshot
Reply
ForceFollower traderWgun
2 years ago
Yeah, markets are imperfect and make every perfect theory fail. Failures are their driving force, pretty much reminding the path a wet and slippery soap would go every time you try to catch it with wet hands.
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