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Euro / Japanese Yen
Long

Long EURJPY: Bat + Wolfe + AB=CD + Divergence (2X) + TL Support

By glennmercer
Updated
EURJPY is nearing the PRZ of a series of bullish patterns. A medium term bullish trendline may add support to the reversal zone. To add to the bullish bias, MACD and RSI have both printed bullish divergence. Entry is placed in the center of the PRZ with SL below structure lows and Bat X point and target at .618CD.

Confluence in the PRZ:
  • Bullish Bat
  • Bullish Wolfe Wave
  • Bullish AB=CD
  • Bullish MACD Divergence
  • Bullish RSI Divergence
  • Bullish Trendline Support
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AB=CDBatconfluenceDivergenceEURJPYglennmercergmercerfxMoving Average Convergence / Divergence (MACD)macd_divergencePRZRelative Strength Index (RSI)rsi_divergencetargetlineWolfe Waveww
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