Sell Scenario on USDJPY 📊
On the daily frame, we notice the formation of a negative harmonic pattern (DEEP CRAB).
Whereas, the correction of point B of the XA leg at the 88.6% Fibonacci level
And the correction of points D from the XA leg at 161.8%.
We also note that the pair has completed the formation of the Wolf Wave formation by completing point No. 5
We expect a drop to the following levels, which are:
TP1 / 117.00
TP2 / 116.00
SL / 119.200
In the event of hitting the stop, the harmonic pattern and the Wolf Wave formula will be cancelled, and the selling scenario for the pair will be cancelled.
On the daily frame, we notice the formation of a negative harmonic pattern (DEEP CRAB).
Whereas, the correction of point B of the XA leg at the 88.6% Fibonacci level
And the correction of points D from the XA leg at 161.8%.
We also note that the pair has completed the formation of the Wolf Wave formation by completing point No. 5
We expect a drop to the following levels, which are:
TP1 / 117.00
TP2 / 116.00
SL / 119.200
In the event of hitting the stop, the harmonic pattern and the Wolf Wave formula will be cancelled, and the selling scenario for the pair will be cancelled.
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.
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.