CADJPY short

17 May 2016

The Yen pairs are setting up for another round of Yen strength and one of the best opportunities will be provided by CADJPY. I'm looking for a minor consolidation before entering short. Since CADJPY is in a complex correction on higher time frames we have to keep in mind that what looks like an impulse might not show any follow up. Nevertheless structure looks good for a sell set-up soon. Let's see whether it breaks bearish.


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19 May 2016

Not

19 May 2016

Not

I didn't short CADJPY after the break due to price action and the fact that I didn't see a consolidation. However I think there is a possibility that this current consolidation is not over yet. Which will present a better sell opportunity once wave C is in place.