(4h) Forging Divergence // Harmonics&Elliott // IF=THEN ®

CADJPY

Nice cluster right above the 78% fib;
For now, rsi is showing bearish divergence;

Eventually we would be able to short a C-D leg for an eventual bullish cypher that completes arround 81.42$;
On the other side, an eventual 5waves impulse can throw the price above weekly resistance(W1);

CYPHER:
Point B:
38.2% to 61.8% XA
Point C:
127% to 141% ext XA
Point D:
78.6% XC
Target:
TP1 38.2% CD
TP2 61.8% CD

GARTLEY
Point B:
61.8% can not touch 78.6% XA
Point C:
38.2% to 88.6% AB
Point D:
78.6% XA
127% ext AB
Target:
TP1 38.2% AD
TP2 61.8% AD

Safe Trades;
open.spotify.com/tra...FVR1oDjZSg3BdzUIpGSw

Commentaire:

Falling over the cluster zone, breaking previous resistance level, now support, daily support as next target? ;) cheers