A quick update on the CADJPY Buy trade, expectation is for higher prices into the Sell Zone. AUDUSD has rallied and this type of Rally is a BUY to SELL Setup. The Daily chart indicated that the long term sellers are now in the market and the move from Monday to the current area is a Pullback. Sell is the Call and we will use .6754 as the stop loss. Enjoy!
The CADJPY has been trading strongly since April 26th, 2023. There was a big increase on Friday and it continued today. However, based on our wavecount analysis, we believe that three wave structures have been completed and it's likely a good time to sell. We took a short position at 101.05, with a 10-pip risk and a target of the GM4A (100.64) of the fibo. Enjoy!
just checking back in from earlier. Retweet for some exposure. need feedback from you EW specialist.
Trading tip: Caution is needed with the Wave Counts below as the Dollar Index could "pull" its last available "joker" in its sleeve and extend the Corrective Structure towards a Triple Three, thus resulting in a temporary Bullish outcome before the expected fall. Members already took profits on the previous BIG RED BEAR knocking on your door! Part 2 - DXY 2H ...
Sell that C leg
Dollar Index (DXY) is currently trading within a Complex Corrective Structure (WXY), with the last piece remaining to unfold on the Bullish side. After this scenario would be validated, I would be expecting a last Bearish Trend (which could be significant), thus leaving room for EUR/GBP/XAU/XAG to complete their last Bullish Swings for each of their...
According to the present Wave Count BTC/USD is trading within a Double Three, with the last Minor C (red) awaiting to unfold and complete the entire Corrective Structure.
DXY Wave Count is pointing out towards a possible fall towards Minute %, which would finalize, in my personal view, the end of the down-trend and Primary A.
Hey everyone, just thought I'd share with you a potential trade idea for the Asian session traders. All is explained in the video. Great feature! Cheers