A potential bear unified gartley is setting up. It is seen by wpr(14,-20,-80), atr(2.5, 30) and pips(300) reversal algorithms. Oscilator wave confirmation algorithms are frequently used by Ellioticians, pips and atr swing identification algorithms are commonly used by classic chart pattern traders.
If you have this pattern in your trade plan then...
sell in 0.7110-0.7134 zone. if the zone is crossed then the pattern didn't work. first target is 0.7089, second target is 0.7076. The targets are adjusted if price action goes deeper into the yellow zone(restretch the fibs to fit priceaction and find new 0.382 and 0.618 levels).
Thanks for sharing, I agree with your bearish view on AUDUSD, and am looking at a breakout trade. RSI is facing bearish pressure as well.
easyMarkets
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Good call on AUDUSD and there may be bearish bias as you have identified. The resistance that we have identified is at 0.7094, which is above your target one. It is a horizontal pullback resistance, with 61.8% Fibonacci extension and 38.2% Fibonacci retracement. Stochastic is approaching its resistance and we might see a corresponding drop in price should it react off this level. If a corresponding bounce does occur, we may want to look at the 0.7045 support level. It is a horizontal swing low support. Excited to see how things develop.
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G