Canada vs. Japan
Updated
In this pair, I see a possible short entry.
First, we need the price to move back into the correction level. From there we could take a short trade.
The nice thing about this setup:
If we get the Sell entry, and the price falls below the yellow point C, automatically, the next sequence (displayed in red) will be activated and might be giving us new reentries with new targets. Let's assume for a moment, the red sequence finishes as well and then corrects... We would then get another (blue), bigger sequence, with its targets in the correction area of the main bullish sequence.
This is what could happen, but is pure speculation at this moment:
Leets go step by step and see if we get a short entry first ;-)
First, we need the price to move back into the correction level. From there we could take a short trade.
The nice thing about this setup:
If we get the Sell entry, and the price falls below the yellow point C, automatically, the next sequence (displayed in red) will be activated and might be giving us new reentries with new targets. Let's assume for a moment, the red sequence finishes as well and then corrects... We would then get another (blue), bigger sequence, with its targets in the correction area of the main bullish sequence.
This is what could happen, but is pure speculation at this moment:
Leets go step by step and see if we get a short entry first ;-)
Trade closed: target reached
What a trade that was:now we wait for a new low and then want to see the price to give us a new correction level.
Note
Holy Hell! If I was a Golfer, I would call that a Hole in One!Let's wait for the correction of that red sequence now. We could even try a long trade here, me personally I prefer to go with the trend and do not trade corrections. Usually ;-)
Note
Now we want that blue sequence to start its action. The complete correction of the red sequence is the same as the A-B move of the blue sequence. As we du have smaller sequences already, we can trade the way from B to C of the blue sequence.
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