CXY Short Trade Idea
Looking at CXY medium to long term, it has been in a hectic downtrend since 2011 mid-year. This tells me that there is a lot of underlying bearish
momentum even though the 5 wave motive move has been completed as well as it's subsequent ABC corrective structure. Therefore, on this note,
Could we possible expect a continuation of the preceding downtrend and a weaker CAD for another quarter? or a formation of an uptrend to
take up strength for the CAD? Let's discuss it down below.
For now however, CXY may be in a corrective structure in a smaller degree than the larger downtrend scale. So For the next month or two I will
be expecting the formation of the B leg. Price closed below 75.0 on Friday, signalling the possible cap of the short live A impulse.
Targets:
-70.8
-69.0
Let me know what your thoughts are on CXY for the upcoming quarter, Have a blessed trading week ahead and stay on the right side of risk
management.
momentum even though the 5 wave motive move has been completed as well as it's subsequent ABC corrective structure. Therefore, on this note,
Could we possible expect a continuation of the preceding downtrend and a weaker CAD for another quarter? or a formation of an uptrend to
take up strength for the CAD? Let's discuss it down below.
For now however, CXY may be in a corrective structure in a smaller degree than the larger downtrend scale. So For the next month or two I will
be expecting the formation of the B leg. Price closed below 75.0 on Friday, signalling the possible cap of the short live A impulse.
Targets:
-70.8
-69.0
Let me know what your thoughts are on CXY for the upcoming quarter, Have a blessed trading week ahead and stay on the right side of risk
management.
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