CADJPY wave 2 pullback trade
Updated
Simple trade based on a wave 2 38.2 fib pullback into 1h tunnel, if it gets that far. Possibly, with bravery, the trade could be taken already at 23.6% but it's important the pullback is in 3 sub waves. If not, even at 38.2 we may get a deeper dip into 61.8%, so this is something to look out for before getting into the trade. TP can be any high to the left of your choosing although I think there is potential to go really high, but taking partial profit is never wrong. Also look at idea for the bigger picture in Related ideas.
Note
So I'm not taking the trade here as things stand, price simply came down too much too fast and only in 1 wave.Note
OK looks like it's Evergade that defaulted. Well, markets over reacting as usual as this probably is a nothingburger, with a shiny screaming facade. So in due time this move should be faded in my view.
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