$CADJPY Smaller Wolfe Wave Nears Completion at Point 5
Hello Traders,
Here is a bearish Wolfe Wave forming. This is a smaller time frame Wolfe than the larger one I have linked below and also highlighted in grey. This could potentially cancel out the larger frame Wolfe. If the larger time frame Wolfe completes at Geo"s Off-Set rule we could have a Wolfe Wave completion at 5" for the smaller Wave. It will be interesting to see how this plays out.
Side Note - The dotted orange line represents an invalidation line, something I picked up from 4xforecaster. In order to know when the projected Wolfe is invalidated, one must take the parallel of the 1-3 and place on the current point 4. If price surpasses this line, then the current Wolfe Wave is invalidated. You can view more cool lessons from 4xforecaster here: www.tradingview.com/u/4xForecaster/
Best,
Chartistry
Here is a bearish Wolfe Wave forming. This is a smaller time frame Wolfe than the larger one I have linked below and also highlighted in grey. This could potentially cancel out the larger frame Wolfe. If the larger time frame Wolfe completes at Geo"s Off-Set rule we could have a Wolfe Wave completion at 5" for the smaller Wave. It will be interesting to see how this plays out.
Side Note - The dotted orange line represents an invalidation line, something I picked up from 4xforecaster. In order to know when the projected Wolfe is invalidated, one must take the parallel of the 1-3 and place on the current point 4. If price surpasses this line, then the current Wolfe Wave is invalidated. You can view more cool lessons from 4xforecaster here: www.tradingview.com/u/4xForecaster/
Best,
Chartistry
Giao dịch đang hoạt động:
Short position active. Point 5 reached.
Short position active. Point 5 reached.
Giao dịch được đóng thủ công:
More room for upside, I'd be looking for 5' and even 5" as area's to short. Updates to come.
Bình luận:
5' hit and reacted. Now looking for an opportunity to short. Will stay up to date with this one.
5' hit and reacted. Now looking for an opportunity to short. Will stay up to date with this one.
Giao dịch đang hoạt động
Đóng lệnh: đạt mục tiêu
Acting as forecasted. Will update this chart once point 5 is hit.