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glennmercer

NZDJPY Wave Count: Consider Crab, WW, & Pivots

Dólar neozelandés/Yen japonés (FX:NZDJPY)  
glennmercer  
FX:NZDJPY   Dólar neozelandés/Yen japonés
Elliott Wave EW glennmercer NZDJPY Wolfe Wave ww Bearish Deep Crab Deep Crab Harmonic Patterns Harmonic Patterns confluence PRZ correction correctivewave Zigzag zz
4
0
elliottwaves ew glennmercer nzdjpy wolfewaves ww bearishdeepcrab deepcrab harmonicpatterns harmonicpatterns confluence prz correction correctivewave zigzag zz
NZDJPY seems to be forming a 4 of C of (4) correction. PA is showing bearish signals in a PRZ formed by a bearish Wolfe Wave and bearish deep crab harmonic pattern. I expect price to begin turning around in the demand zone, where previous wave 4 structure, Wolfe Wave target line, and .382CD all converge in a confluent S/R area. For the long entry, SL is placed below wave 1 peak.

Supply Zone Confluence:
1. Bearish Wolfe Wave completion
2. Bearish deep crab pattern completion
3. 2AB=CD completion
4. 2.24BC projection

Demand Zone Confluence:
1. Wolfe Wave target line
2. .382CD retracement
3. Unhit daily pivot
4. Previous wave 4 structure
5. S/R area

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