CADJPY

19 Şub 2014

On the 4h time frame , the main trend is clearly DOWN , the impulsive waves was very strong (1-3) , the first corrective wave (2) was very simple , that is give a chance to second corrective wave (4) to be complex :) usually after each rally we can see reversal pattern like a flag or a pennant , in our case , here after the second rally formed the third wave we can see a good flag formed the wave 4 , and by breaking out the support level of this pattern you can expect continuation of the main trend and looking for the fifth wave