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DigitalKM
May 12, 2016 12:39 PM

Potential Shorting opportunity AUDUSD Short

Australian Dollar/U.S. DollarFXCM

Description

Hello Traders,
We have a potential shorting oppotuninity on the AUDUSD.
If price can pull into 0.7489 we have a bat pattern completion.
This presents a shorting opportunity, following the downtrend
In this price area we have previous support that may act as resistance.
Futhermore the Bat pattern completion is very close to the 0.7500 psychological level which may act as additional confluence.
I will be keeping an eye out for signs of overbought conditions or divergence.

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Order cancelled

Exceeded c leg. Pattern invalidated
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