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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
GBPUSD Long on a potential Bat patternHere we try again with a new Bat pattern setup on the GBPUSD with trend, RSI going oversold soon, with minor trend. Lets hope it will finally hit our PRZ at 1,42870 Stops and targets are on the chart. I am very sorry for so many of my posts have gone invalid before they hit termination point, markets have been on some wild expansions in every direction this week. I will try get them out more close to our PRZ area. But some trades might miss to be posted if they get triggered off desk time. Kind Regards Thomas Jeff
Long
by UnknownUnicorn101425
2