$EURNZD | Bearish Wolfe Wave Near Completion | Targets Defined

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

Kommentar:

Update: Both targets remain in tact and in force.

Kommentar:

Target Hit, Dead On.

Kommentar:

UPDATE: There is a Wolfe Wave pointing in the opposite direction. If in a short, be aware of the potential move up.

Best,
Chartistry