FX:EURJPY   Euro / Japanese Yen
153 7 11
Afternoon traders!

1D Chart

Here is a great longterm setup with the possibility of multiple long positions.

With a current target of (5), currently sitting in the wedge , This is a great opportunity for PRO or Ameture traders looking to make a profit.

My tolerance for risk is sitting at about 90% upwards.

Note: This setup has a 90% success rate. Thus i will be scaling my positions with my risk tolerance increasing with every position heading towards (5).
Comment: NOTE: The time in which the target of (5) is reached is somewhat irrelevant as there are "PATTERNS" inside of patterns on shorter time frames consistently trying to find equilibrium.

My Target of (5) still has the same possibility of landing its mark at any stage over the next month
Looking for an entry a little lower at 124.85.
TPittard mustard
Thanks heaps for that one, I was looking for a better entry than the one i had planned.

I really do underestimate the importance of S/R at times, it's a real asset when trading P/A.
wolfe wave?
TPittard WaveAlchemy
TPittard WaveAlchemy
I'd include the wick in your analysis.
WaveAlchemy TPittard
I think your labelling here is incorrect. Where you label the end of wave 1 is actually the end of wave 2, and etc. In which case the lines connecting the ends of the waves would not converge, ruling out that this is not the traditional pattern wolfe identified.

Let me know if i'm reading your analysis wrong, or that if this may be some kind a variation of the wolfe wave??
TPittard WaveAlchemy
Hey @IvanCourtier

I'm glad you picked that up.

Fortunately, this is a traditional wolf wave. The labeling is different as i use the Elliott impulse wave tool.

If you have anymore questions feel free to P.M. me and we can discuss some strategies.
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