CADJPY Short: EW Count, Completed Expanding Triangle

Hey traders! Looks as though wave-((b)) of the correction has complete and a potential five wave bearish impulse may finalize wave-((c)). It is important to consider, however, that there are in fact multiple alternative wave counts with this type of potentially complex correction. If price powers through the bottom of the pinbar candle, this will be an adequate indication that the next move will be a five wave structure into wave-((c)) and I will take the short. Also, a pivot cluster sits near target which may pull down price toward the ((c)) wave. Happy trading!

Handel aktiv:

Big bearish impulse, trade is active

Trade stängt manuellt:

Price reached 1:1, SL moved to B/E and stopped out at B/E. Currently neutral on this pair with a slight bias toward the upside. Cheers!