CADJPY is making a nice flag/trend continuation pattern/corrective structure on the daily for another impulse to the upside. When I break down the structure on the 4 hr it looks like we just made an "abc" correction within a wave "b" for one more wave down to complete a 3 wave correction. 83 area looks to be a good area to watch for the reversal to the upside as we have 4hr supply with 1.27 fib extension from wave one but from the looks of this correction wave 3 likes to be extended.
Essentally we are watching and waiting for the next impulse to the upside because it has a huge profit potential but i expect one more move down and has a possibilty to be extended.
Essentally we are watching and waiting for the next impulse to the upside because it has a huge profit potential but i expect one more move down and has a possibilty to be extended.
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