Hello Traders,
EURNZD has created points 1, 2, 3, 4, and is now on its way to create point 5. The targets defined give us a better understanding of where this Wolfe Wave will start its path to the potential 1-4 target line. Although the targets defined are BULLISH this pair remains BEARISH in the higher time frame (see related post).
As always, the darker red gives a higher probability target and lesser chance of reversal while the lighter red gives us a lower probability target with a higher chance of reversal. Both targets are likely to be reached.
If price is able to reach 5' or 5" I will consider Geo's Off-Set Rule as defined by David Alcindor (4xForecaster)
Point 5 = 1-4 Target Line
Point 5' = Geo's Off-Set Rule at point 4
Point 5" = Geo's Off-Set Rule at point 3
Song
Silencio Do Amor - Luiz Bonfa
https://www.youtube.com/watch?v=tTTEPodPlHA
This Bossa Nova track is great to listen while trading, keeps you cool, calm, and collected.
Best,
Chartistry
EURNZD has created points 1, 2, 3, 4, and is now on its way to create point 5. The targets defined give us a better understanding of where this Wolfe Wave will start its path to the potential 1-4 target line. Although the targets defined are BULLISH this pair remains BEARISH in the higher time frame (see related post).
As always, the darker red gives a higher probability target and lesser chance of reversal while the lighter red gives us a lower probability target with a higher chance of reversal. Both targets are likely to be reached.
If price is able to reach 5' or 5" I will consider Geo's Off-Set Rule as defined by David Alcindor (4xForecaster)
Point 5 = 1-4 Target Line
Point 5' = Geo's Off-Set Rule at point 4
Point 5" = Geo's Off-Set Rule at point 3
Song
Silencio Do Amor - Luiz Bonfa
https://www.youtube.com/watch?v=tTTEPodPlHA
This Bossa Nova track is great to listen while trading, keeps you cool, calm, and collected.
Best,
Chartistry
Note
Update: Both targets remain in tact and in force.Note
Target Hit, Dead On.
Note
UPDATE: There is a Wolfe Wave pointing in the opposite direction. If in a short, be aware of the potential move up.Best,
Chartistry
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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.
Related publications
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.