CADJPY, 4hr tf, more downside expected on wave-C
As you can see we're on ABC correction after completing all 5 waves.
The B is a triangle and we might see another 5 smaller waves to the downside.
You could also see that pattern as descending triangle or bearish flag, it is up to you how you see it but it should be clear as bearish continuation pattern.
Wait for price retrace around 86.70-75 before entering sell.
Sell CADJPY 86.75
Stop loss 87.15
Take profit 85.05 (4.25R)
Use only 1-2% risk
Good luck
The B is a triangle and we might see another 5 smaller waves to the downside.
You could also see that pattern as descending triangle or bearish flag, it is up to you how you see it but it should be clear as bearish continuation pattern.
Wait for price retrace around 86.70-75 before entering sell.
Sell CADJPY 86.75
Stop loss 87.15
Take profit 85.05 (4.25R)
Use only 1-2% risk
Good luck
