glennmercer
Long

Long AUDUSD: Wolfe, Bat, Trendline, Butterfly & Unhit Pivots

FX:AUDUSD   Australian Dollar/U.S. Dollar
a year ago
AUDUSD             is nearing the PRZ of a cluster of bullish patterns. A large bullish bat contains a bullish butterfly in its D leg. In the PRZ of these two patterns, a bullish Wolfe wave setup has been completed. A D1 trendline sits at the base of the PRZ and may act as support when price reaches this area. To add to the bullish bias, two unhit pivots sit above price. SL is set below X of the large bat pattern . Targets are placed at the 382 and .618 retracements of the bat CD leg.

Confluence in the PRZ
  • Bullish bat pattern completion
  • 2.24BC projection
  • 2AB=CD
  • Bullish butterfly pattern completion
  • 3.382BC projection
  • 1.5AB=CD
  • Bullish Wolfe Wave setup
  • Strong D1 trendline support
  • Unhit daily and weekly pivots above price

D1 Trendline Support:
snapshot

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a year ago
Comment: **Price has entered the potential reversal zone
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Hiisham
a year ago
amazing chart :) Mrs,Glenn
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glennmercer PRO Hiisham
a year ago
Thanks Hiisham!
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ccake28
a year ago
Hi. Are u long already?:)
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glennmercer PRO ccake28
a year ago
Hello - not yet, I'm waiting for a deeper move into the PRZ
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Hiisham
a year ago
i have been already jump to this trade
+1 Reply
glennmercer PRO Hiisham
a year ago
I am long already on my "scale in/scale out" account as well Hiisham. No problem, we might not see price enter the PRZ again anyway. Lets watch!
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Hiisham glennmercer
a year ago
ooh that's very niice feel happy ;) my first months without losing :)

Thanks you ;)
+1 Reply
glennmercer PRO Hiisham
a year ago
Great news keep up the good work!
Reply
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