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:
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.