CADJPY - Possible Reversal

In Elliott Wave, running flats are almost non-existent, or extremely rare.

If you run into one, then the direction is unlikely to continue.

We are at point D now. Looking for price to fail here and run opposite, then breakout.

Good luck!

Trade active

Played out so far. Entered long.

Note

Stopped out by 5 pips before the reversal.

Trade idea is still intact though. Looking for retrace entry next week.

Note

Game plan forward.

Market structure break. Will take a long if price comes back to or near the H4 breaker.

Note

Retest of broken trend and it seems to be holding at previous wave 4. Possible area for a long.

Note

Ok, came back to the breaker eventually. Going long. Make or break area here.

Trade closed manually

Closed ahead of target.

rookiyong

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

rookiyong