Short AUDCAD: Bat + Crab + Fib Cluster + Pivot

FX:AUDCAD   Australian Dollar/Canadian Dollar
AUDCAD             is nearing the PRZ of two bearish harmonic patterns . The PRZ is confluent with resistance from a Fibonacci cluster (.618 and .786) formed by two structure highs and lows. To add to the bearish bias, there is a missed monthly pivot below price which coincides with .618CD. Entry is placed at the center of the PRZ with SL at 1.13XA (bat) and targets at the . 382 retracement of the CD leg.

Confluence in the PRZ:
  • Bearish crab pattern completion
  • Bearish bat pattern completion
  • 3.382AB=CD
  • 3BC Projection
  • Fibonacci cluster
  • Missed December, 2015 pivot below price

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Trade active: Short active at 1.01028
very nice chart... good work!!!
+1 Reply
Thank you, cheers!
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