glennmercer
Short

SHORT AUDUSD: 3 Bearish Bats & A Wolfe Wave

FX:AUDUSD   Australian Dollar / U.S. Dollar
AUDUSD             has completed 3 separate bearish bat patterns in a bearish Wolfe Wave sell zone. This placement of the SL and TP will still be technically valid if the FOMC spike is ignored by traders and the pair rises to the .73 area again. If traders respect the spike then a drop from current levels is what I would expect. If the trading strategy calls for two targets, the first target may be placed at the WW 1-4 target line.

Confluence in the PRZ:
1. 2 Bearish Bats
2. 1 Bearish Alt. Bat
3. 2AB=CD
4. 2.618BC
5. Missed Weekly Pivot
6. Missed Daily Pivot
7. Wolfe Wave Sell Zone

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Updated Wolfe Wave:
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