Last Friday I posted a potential perfect sell set-up for the CHFJPY which has been triggered today.
I'm very specific when it comes to wave count and especially when it comes to extensions. This resulted in a 7 wave pattern which is an extended corrective wave count. This boosted the probability of the short because I was looking for another impulse lower.
Waiting for consolidation to enter short is a good approach. I will use such consolidations to adjust my stop loss to profit and add. Good trading to you!
khorkhii
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Got in late and shorted at the consolidation, nice 45 pips. Thanks Tim!
TimStuyts
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That's great, congrats! The target at 116.20 has been hit! I'm out of this trade now and will be looking for what's next.