Will the bears take over the market? Short

Euro Fx/Australian DollarFXCM

Description

⋅ Oct 3, 2014 5:24 PM

The 5-0 pattern is completed.
Will the bears now take over the market?

IF price bounce again off 1.43702 zone again AND IF price breaks/closes above 1.44660,
THEN i will shorting the market @ 1.45589 with a BAT pattern

I haven't tested/traded any 5-0 patterns.
Also, for now there are too many IF clausules for me, so I'm sitting on my hands.

Comments

Mikoxl.

⋅ Oct 8, 2014 3:40 PM

Although price made a lower low below point C, there is still a short setup in play: alternative bat.