WaveAnalysis

CHFJPY Short Trade Setup

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OANDA:CHFJPY   Franco Suíço/Iene Japonês
After the expanding flat, which ended at blue C, a reversal impulse and correction between the blue lines have come. After the last top, we got a lower degree impulse and a correction between the yellow lines, which seems like a complete one. Then another reversal impulse and correction between the purple lines. The issue is that correction because it seems odd. I think we have two options here. First, we may see a wave up until the yellow trendline for a nicer correction. In this case, I'll wait for a reversal pattern to place a pending order. Second, a correction and more downside. In this case, I'll set an order under the last low.

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