CADJPY Long: Bull Flag Rally into Wave-(v)
Hey traders! CADJPY is producing a nice bull flag and is likely wave-(iv)-of-((c)). That would mean that we have another rally coming before it's time to start looking for shorts. I have target set to the A=C level with SL beyond the point which would invalidate the triangle. Setup is valid unless new highs are made before triangle completion or if invalidation level is breached.
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Price dropped below C on a bearish impulse. HOWEVER, another triangle has presented itself. This trade is active with the same profit target. I have stops set below wave-e terminus:
