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glennmercer

Short GBPAUD: Bat + Butterfly + AB=CD

Short
British Pound / Australian Dollar (FX:GBPAUD)  
glennmercer  
FX:GBPAUD   British Pound / Australian Dollar
Bat Bearish Bat Butterfly Bearish Butterfly Harmonic Patterns PRZ confluence
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batpattern bearishbat butterflypattern bearishbutterfly harmonicpatterns prz confluence
GBPAUD is forming a potential confluence of 3 pattern completions in a tight PRZ. In addition to a precise alignment between the completion of a bearish bat and a bearish butterfly, an ideal alternate AB=CD reciprocal ratio completes in the area as well (.707/1.41). Targets placed at the .382 and .618 retracement of CD.

Confluence in the PRZ:
1. Bearish bat pattern completion
2. Bearish butterfly pattern completion
3. 1.41AB=CD
4. 2BC Projection

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