AUDUSD: Wedge Pattern Setup Short

Australian Dollar/U.S. DollarFXCM

Description

⋅ Mar 21, 2017 3:28 PM

Reason to entry:
-Inverted Wedge Pattern is a reversal pattern
-Butterfly pattern
-very-very strong resistant
-Overbought Divergence RSI
-Price action rejected so many times

Entry:
-at resistant level
-127.2 Butterfly completion
-161.8 Butterfly Completion (Low probability)

Exit:
-38.2% retracement
-61.8% retracement

Void if:
-price close above resistant level

Remember that market always right!
Manage your trade well!