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Aprr

EURGBP Short: Bearish Wolfe WaveEURGBP has completed a bearish Wolfe Wave setup and may be ready to short toward the target line. Triangle is complete on the APRR oscillator as well. As always, it's a good idea to wait for confirmation before placing a trade. Close below the 1-3 extension would be a good indicator of continued bearish pressure in this case, with a tight stop above recent highs. This setup has two targets, one at point 3 and another at the 1-4 extension (traditional WW profit taking level).
Short
by glennmercer
3
UDSCAD Long: Time For the Rebound - So much Confluence!Yesterday I posted this: With a conservative short TP at the .786 fib. The pair has now dropped to the 1.618 level and is showing us several signs of bullish confluence, indicating a rebound is in order. A falling wedge/Wolfe Wave is complete and is pushing the upper retaining resistance line. Pinbar support has also formed on the 1HR chart at a key level: the bearish ADR line, which typically is a great sign for this level acting as strong support. On the Average Period Relative Range indicators, the triangle that was predicted is scheduling to complete on the 1H chart and the 15m chart is showing a potential HAS breakout if the neckline is broken. If the neckline breaks, so will too the upper boundary of the bullish Wolfe Wave. Pattern targets range between 35-55 pips, however there is a very important level at 37 pips. This level marks confluence between the wolfe wave target line, .382 fib level, and an AB=CD/Head and shoulders target line. Remember that this is end of week trading so ensure these types of trades fit within your trading plan. Happy Trading! GM
Long
by glennmercer