glennmercer
Short

Short AUDCAD: Gartley, Alt. Bat, Wolfe Wave, Trendline & Pivot

FX:AUDCAD   Australian Dollar/Canadian Dollar
AUDCAD             is nearing the completion of two bearish advanced             patterns. The pattern PRZ is confluent with a potential Wolfe Wave setup. A daily trendline may add to the resistance in the PRZ. An unhit weekly pivot sits below price to add to the bearish bias. SL is set above secondary trendline resistance. Targets are set at .382 and .618 retracements of XA. A third target is placed at the BC             terminus which is confluent with the Wolfe Wave target line.

Target Risk/Reward Ratios:
T1: 0.75
T2: 1.23
T3: 2.02

Confluence in the PRZ:

3 Day Chart: Trendlines

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Order cancelled: Trade cancelled - targets achieved before entry

Bias is now long:
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Excellent idea!
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