GBPAUD: BEARISH WOLFE WAVE FORMED NEAR SR AND SUPPLY LEVEL Long

British Pound/Australian DollarFXCM

Description

⋅ May 31, 2015 2:35 PM

Bearish Wolfe Wave formed near SR level and Supply area. Price also has reached 127% Fib level. Only go for a short position when the price has entered below the 1-3 trend line and showing bearish move

Comments

kmk.msp

⋅ May 31, 2015 7:09 PM

This is not Wolf Wave because both 1-3 and 2-4-5 line should converge instead of diverge i.e. should meet at some point

coffeeground

⋅ Jun 1, 2015 2:14 AM

thankyou for noticing @KMK.msp . i thought 1-3 and 2-4 converge is not a mandatory for wolfe wave.

coffeeground

⋅ Jun 4, 2015 1:46 AM

this trade is a loser. i found a new bearish wolfe wave in this pair and the 1-3, 2-4 did converge :)