WW T2 Achieved: Now Short on Wolfe Wave, Bat & Butterfly

17 thg 9, 2015

EURJPY has achieved Wolfe Wave T2 (attached below) and is completing a series of bearish patterns in a confluent reversal zone. On the longer TF, a 1.13 projection of 0X lies at the top of the PRZ. There are also bearish bat and butterfly patterns completing in the area of a Wolfe Wave SELL zone. Missed pivots lie below price which may also drag down price. Entry in the middle of the PRZ with targets at the 1-4 WW target line and the .618 allow for a R/R of about 2.5.

Confluence in the PRZ:
1. Bearish Bat Completion
2. Bearish Butterfly Completion
3. 3.14BC
4. 1.13 0X
5. AB=CD
6. 3 bc Projections
7. Bearish Wolfe Wave completion

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Long on Wolfe Wave:

Long on Bullish Crab: