CADJPY SIMPLE ELLIOTT WAVE APPROACH (123)

If you missed the short opportunity @ the 50% retracement of wave(1) , no need to worry as there is still plenty of opportunity left in this market.

For starters , "The Trend Is Your Friend".
We are currently experiencing LL's & LH's so lets stick with it.

Entry:
You can enter short @ the break of wave(2)'s Low

Stop Loss:
Above wave(3)'s high.

TP:
You can take profit @ the distance between wave (2) - wave (3) projected below the break of wave(2)'s Low , also the 161.80% Fibonacci Level.

Alternative more aggressive TP:
You can trail the stop candle by candle.

Happy Trading
-Supreme7

Trade ist aktiv:

its moving just like we want it to, almost there!!
if you got in @ the break of wave(2)'s Low you can place your stop above the close of the current 2hr candle's High if your worried. Or bring your stop down to Break Even as we are halfway to our target.

Happy Trading
Supreme7