The CADJPY long term count is the best of all yen pairs. Super clear 4th wave correction is going right now. It is more likely to be a trangle than a flat.
This is count is very unlikely given the cross pair, cross market analysis. Use the PITCHFORK LINE to gauge between this and the previous count.
Check out my daily chart for long term swing trade entry. This is a zoom in chart for 4h time frame.
38.2% of the A wave decline++ Pitchfork trend line ++ lower level 4th wave resistance == triple confluences
This possible bounce is giving us entry for swing trade short.
Don't sell this trump speech induced drop, buy it. And then sell.. The market is a bitch.
Still one of the best trade for 2017 IMO. Stay sideline for now.
The count indicates that a bigger drop is coming the reversal is likely this week. Watch the red arrow level, pitchfork+wavecounts+fib level+ time!!
I lay out 3 different bullish count for AAPL. Pitchfork is the most likely one.
The correction downward has been very fast. Therefore, making the b wave tradable. The pair is going to reversal either right off today's low or a bit lower in the 0.786-0.886 zone.
This decade long trend line is putting pressure on the price. I do believe the mid-long term outlook is still bullish. However, the breakout is not going to be straight line one shot. Stay bearish against the YTD high.
Market run away from the big support level stated early. This is likely leading to a complex 4th wave. Look at the weekly candle. It is a complete wash out both the bulls and bears. The market will take time to consolidate.
The wave counts previously had been materialized. The pair enter a period of correction and this wave is normally hard to trade.
The broad idea is the same just correct the wave count a little bit.
NFP is coming up next. watch out this huge potential reversal zone around 114.800. If you zoom out this level is also a big pivot level during the massive decline the last two year. If you want to play dollar bullishness. USDJPY is the BEST place to be AFTER NFP!!
UPDATED chart. We should see broader USD recovery in the coming trading days.
NZDUSD reversed at key inflection point. Further declined is on the way, although there is a chance of another spike high. That should be within the pitchfork anyway. Higher time frame wave count need further confirmation. Stay bearish for now.
USD cross break out across the board. Use 1) broad USD trend. 2) pitchfork 3) wave count to identify (y) wave target.