EURJPY Long: Wolfe Wave to Continue Crab Reversal

15 Eyl 2015

EURJPY has completed a 5 point Wolfe Wave setup after price overshot the 1-3 line and reversed in the 'sweet zone'. Conventional profit target is the 1-4 target line, but a conservative target may be taken at the alternate target line. As published previously, there is a bullish crab T3 at the top of previous structure highs so the trade may be carried out further depending on price action.

Note: Since a missed daily pivot sits below entry which may drag price down, I have set a tight SL below point 5.

Previous Bullish Crab Idea: