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glennmercer

Short CADJPY: Gartley + Wolfe + TL + Pivot

Short
Canadian Dollar / Japanese Yen (FX:CADJPY)  
glennmercer Updated   
FX:CADJPY   Canadian Dollar / Japanese Yen
CADJPY glennmercer confluence Wolfe Wave waves Gartley Bearish Gartley unhitpivot Monthly Pivots pivot Pivot Points missedpivots targetline PRZ Trend Lines Support and Resistance S/R
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cadjpy glennmercer confluence wolfewaves waves gartleypattern bearishgartley unhitpivot monthlypivots pivot pivotpoints missedpivots targetline prz trendline supportandresistance s_r
CADJPY has completed a bearish Gartley pattern and has thus far respected its resistance in the potential reversal zone. The Gartley PRZ falls in the sell zone of a bearish Wolfe wave which produces a confluent target with the harmonic pattern. To add to bearish bias, an unhit monthly pivot sits below price. SL is set above Gartley 'X' point with targets at .382CD, .618CD, and the unhit pivot for the month of November.

Confluence in the PRZ:
  • Bearish Gartley pattern completion
  • AB=CD (Gartley)
  • 1.5BC projection (Gartley)
  • Bearish Wolfe wave setup complete
  • Trendline resistance confluent with Gartley PRZ
  • Unhit monthly pivot below price

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Comment:
T1 Achieved: +30 Pips

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