glennmercer
Short

GBPAUD Short: 3 Patterns Confluent w/ WW and TL Resistance

FX:GBPAUD   British Pound / Australian Dollar
GBPAUD             has been rejected at the PRZ of 3 bearish patterns: Alt. Bat, and 2 Bearish Crabs. A bullish engulfing candle suggests continued downward PA in the short term, and trendline resistance in addition to missed pivots below price may help to drag price down long term. On the D1 chart, a potential head and shoulders pattern is emerging. Targets are placed at the unhit weekly pivot and the head and shoulders neckline.

Confluence in the PRZ:

D1 H&S Pattern:

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Trade closed: target reached: T1 Achieved: +274 Pips, closed half and moved SL to B/E
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