glennmercer
Short

Short AUDUSD: Wolfe Wave + 3 Patterns at Trendline Resistance

FX:AUDUSD   Australian Dollar/U.S. Dollar
a year ago
AUDUSD             has entered the PRZ of 3 bearish harmonic patterns . The zone falls in the sell area of a bearish Wolfe Wave and is backed by strong resistance. SL is placed above bat completion. Targets are set at .382 and .618 retracements of CD.

Confluence in the PRZ:
  • Bearish bat pattern completion (2X)
  • Bearish crab pattern completion
  • Bearish Wolfe wave
  • Strong trendline resistance
  • 2.24BC projection
  • AB=CD pattern completion
  • 2.24BC projection
  • 1.618ab=cd

Trendline Resistance:
snapshot

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a year ago
Comment: Target 1 has been hit - I am leaving the entire position open and moving SL to B/E as I believe this has potential to run to the target line.
a year ago
Trade closed: stop reached: SL reached at break even +0 Pips
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