AUDUSD has completed 3 separate bearish bat patterns in a bearish Wolfe Wave sell zone. This placement of the SL and TP will still be technically valid if the FOMC spike is ignored by traders and the pair rises to the .73 area again. If traders respect the spike then a drop from current levels is what I would expect. If the trading strategy calls for two...
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. ...
OPK has completed a bullish bat pattern at an excellent support level. Price is showing clear signs of respecting the tight and confluent PRZ and may begin to reverse toward the upside in the next couple of days. The company has strong fundamentals with Phillip Frost's outstanding track record in biopharmaceutical innovation as its backbone. PRZ Confluence:...
EURJPY has completed a 5 point Wolfe Wave setup after price overshot the 1-3 line and reversed in the 'sweet zone'. Conventional profit target is the 1-4 target line, but a conservative target may be taken at the alternate target line. As published previously, there is a bullish crab T3 at the top of previous structure highs so the trade may be carried out...
EURGBP is completing a possible ending diagonal in a critical S/R zone. Entry below support provides a substantial R/R with possible profit targets at the wolf wave profit line and at the .5 fib which coincides with wave ((iv)) price territory. Bearish Knoxville divergence combined with two unhit daily pivots will likely drag the pair down from current levels.
AUDJPY has completed a 5-wave structure and has begun its correction. A close below the diagonal strengthens the likelihood of a possible continued move to the short side. SL above recent highs: 92.085 T1 @ Unhit daily pivot: 91.275 T2 @ previous degree wave 4 completion and .786 * v: 90.43
Short EC based on divergence, trendline break, AB=CD pattern and Wolfe Wave. Taking the more conservative profit target of AB=CD harmonic around 1.393 which also coincides precisely to halfway the distance between the most recent .618 fibo and missed daily pivot from 6/30. A move to this level will complete the AB=CD harmonic. Details on chart. Wolfe Wave:
MT Daily Pivots indicator lets you see the market pivot points clearly using a proprietary statistical range and Fibonacci formula - which also allows you to chose from a choice of pivot point starting places, from the standard, open, prior close and others. Also using a statistical % evaluation of the market range the pivot points can also be adjusted to show a...