CADJPY wave 2 pullback trade

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.

Kommentera:

So I'm not taking the trade here as things stand, price simply came down too much too fast and only in 1 wave.

Kommentera:

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.