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$AUDCHF | High Probability Reversal @ 0.78228 | Fib Wolfe GeoHello Traders, Here I have utilized the the Wolfe Wave, Geo's Off-Set Rule, and Fib clusters. Wolfe Wave - Within the Wolfe's 1-2 and 2-3 points you must look out for an ab=cd pattern which we clearly have stated here. Points 3-4 and 4-5 are less likely to have such patterns. In fact, as a WW trader, you want the 4-5 path to be carved out as smoothly as possible. Which we also have here. The Wolfe is near completion, but this alone will not give us a complete analysis. Geo's Off-Set Rule - I have defined levels at 0.75558 and 0.71548 to clearly show where the Geo's Off-Set Targets lie. Rule 1 - If WW completes at point 5, we will look at the 1-4 line as the exit point. Rule 2 - If price hits 5', we will look at point 4, 0.71548, as the exit point. Rule 3 - If price hits 5" we will look at point 3, 0.75558, as the exit point. Fib Clusters - There are 2 Fibonacci Extensions I chose to display in this chart. The first one is the one on points 1 & 2. This gives us a maximum excursion point at which price will need to reach in order to complete the 1.618 ratio. The next Fibonacci Extension is used on the final leg down from 3-4 which gives us a 2.618 confluence zone with the previous Fib Extension. With that said, 0.78228 is the point price will need to reach in order to reverse its direction. If this pair moves quickly we may touch the 5' line defined, which would give us a high probability target of 0.71548 as an exit. If price does not reach the 5' line I still expect 0.71548 to remain a high probability target. Best, Chartistry
Short
by GWaves
2
$GBPAUD Wolfe Wave and Geo Off-Set RuleHello Traders, Here we have 3 Wolfe Wave's(WW) WW #1 - In the grey dotted line. This WW is near it's target at #1 Geo Off-Set Rule at point 4. The Geo Off-Set Rule here plays a role in the next 2 WW's. WW #2 - In blue dashed lines. This WW is internal to both the first and third(in purple) WW's. The Geo Off-Set Rule in the first WW act's as a point of reversal for the internal WW which created a 5" (5 double prime) structure. 5" calls for a Geo Off-Set at point 3. Represented as #2 Geo Off-Set Rule. This second Geo plays a role in the third WW as well. WW #3 - In purple solid line. This WW formed as price was making its way towards the #1 Geo Off-Set Rule of the first WW. The first Geo will act as point 3 of this third WW. When this target hits, ideally price will hit point 3 of the internal WW and give us point 4 of the third WW. The dashed purple line represents how I see this structure forming. This is an observation of the Wolfe Wave and the Geo Off-Set Rule. I would be interested to see how the structure forms. If you agree with this idea please like and follow for more interesting observations. :-} -Chartistry
by GWaves
5
Why AUDNZD Could Surge 400 Pips From HereAUDNZD – Aussie/Kiwi could continue to push higher The AUDNZD has shown strength recently as we can see in the charts below. You will notice first on the monthly chart that an inside pin bar buy signal has formed from 1.0500 support following several months of consolidation. If bulls remain in control, we could see price continue to break higher from this setup and test 1.1085 resistance and potentially move up to 1.1200 – 1.1300 key resistance zone.
Long
by UnknownUnicorn393254
2