Canada vs. Japan

2020-01-22 15:04:03

In this pair, I see a possible short entry.

First, we need the price to move back into the correction level. From there we could take a short trade.

The nice thing about this setup:
If we get the Sell entry, and the price falls below the yellow point C, automatically, the next sequence (displayed in red) will be activated and might be giving us new reentries with new targets. Let's assume for a moment, the red sequence finishes as well and then corrects... We would then get another (blue), bigger sequence, with its targets in the correction area of the main bullish sequence.
This is what could happen, but is pure speculation at this moment:
https://www.tradingview.com/x/16cF4dps/
Leets go step by step and see if we get a short entry first ;-)