*W33 - CADJPY dr 72

OVERVIEW

equal in:

• EURCAD

weakness of CAD in:

• AUDCAD
  
• CADCHF
  
• CADJPY
• NZDCAD
  
• USDCAD

strength of CAD in:

• GBPCAD

OVERALL FOCUS ON CAD: buy this currency
OVERALL FOCUS ON JPY: sell this currency
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WEEKLY:

Finished sequence pointing to the ATL. Already corrected and started a new sequence with target levels below the ATL. Not enough shorters to push it to the target zone because of the target zone of the primary sequence.

2h:

An almost finished sequence which started correcting and then bouncing off the correction level of the opposite movement. Lots of shorters still, but luckily not too much bearish structure.

30m:

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WHAT DO WE WANT?
We see a failed attempt of an impulsive sequence. Currently in the BC correction level but might drop to the whole correction level.
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DECISIONS
risk vs. profit: (-- / - / 0 / + / ++): -

We have 3 options. We can go long in the BC correction level (we already got some bullish confirmation) or we can wait until it drops to the whole correction level and then go long. Option 3 is to wait until it made a new high and then decide on the basis of it: If it is a lower high and comes back, we can take the whole correction level. If it is a higher high and comes back, the BC correction level could be enough.
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Neither the analysis described here, nor my updates are financial advice and should not be treated as such. They merely represent my ideas by applying the system I learnt from Stefan Kassing and are my interpretation of the system with certain tweaks.
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