CADCHF is currently trending bearish = looking for only sell setups.
In this analysis, we can see multiple degrees of waves. Major waves = Black bracketed waves Subwaves = Red circled waves Minor waves = small red bracketed waves
We are currently in subwave 3 which has 5 minor waves. We are seeing minor wave 2 correction now and anticipating minor wave 3 move lower.
Trade idea: - Watch for rejection of sell zone - Risk entry on rejection of fib - Safe entry on break of red trendline - Targets: 0.712 (250pips), 0.69 (450pips), 0.65 (700pips)