After a bullish Wolfe Wave setup completed for +50 pips, profit-taking may bring the pair back down again. Two confluent harmonic patterns present an excellent R/R for re-entry to catch the continuation of bearish movement related to the daily Gartley pattern (see related ideas). Price has been contained below the Wolfe Wave targetline and any close above recent highs will invalidate the entry. Target is placed at T1 (.382CD) with SL above recent highs.
Confluence in the PRZ:
Bearish bat pattern completion
Bearish alternate bat pattern completion
Wolfe Wave target line
.618 key fib level
Bearish Gartley bias on the daily chart
Missed monthly pivots below price
Bearish Gartley on D1:
Wolfe + Elliott, Possible Stall in Bullish PA:
Thank you for your continued support and don't forget to click the thumbs up button and follow for future updates and more trade ideas!