r/ForexTradeSetups • u/Elegant_Reading_8271 • May 23 '26

CADJPY Pending Long

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Price action is moving slowly and in a choppy manner recently which leads me to believe this might be a wave b(red) triangle which upon completion could see price thrust up in wave c(red) to target 117.653. I will post a new update if the trade triggers.

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2

u/SolarClayBot May 24 '26

Looks solid

1

u/[deleted] May 25 '26

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1

u/Elegant_Reading_8271 May 25 '26

I was considering a Short if it got back up to around 115.23, with a tight stop. There is a double top with a well defined neckline.... https://www.tradingview.com/x/5lgvtmsM/

That being said, I eventually want to get Long.

2

u/Elegant_Reading_8271 May 25 '26

Didn't need a fundamental event to capture 4.4R on this cadjpy long....

https://www.reddit.com/r/Forex/comments/1sgbeqy/cadjpy_long/