glennmercer
Short

Short AUDCAD: Bat + Crab + Fib Cluster + Pivot

FX:AUDCAD   Australian Dollar/Canadian Dollar
a year ago
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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a year ago
Trade active: Short active at 1.01028
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jhakas
a year ago
very nice chart... good work!!!
+1 Reply
glennmercer PRO jhakas
a year ago
Thank you, cheers!
Reply
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