CADCHF - Over 1000pips Banked. What Is Next?

8 Eki 2023

CADCHF has given us over 1000pip worth of setups. We are now looking for one more trade setup to complete this bearish wave.

We know that Waves 1, 3 and 5 have a 5 wave structure. We are currently in wave 5 and looking for 5 subwaves to complete the bearish sequence.

Trade idea:
- We are in subwave 1 (of wave 5)
- Watch for subwave 2 retracement
- price should not go above 0.683 = invalidation level
- Targets: 0.645 (300pips), 0.62 (550pips)

Goodluck and as always, trade safe!

See our previous CADCHF setups below:

8 Eki 2023

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