Short AUDUSD: Wolfe Wave + 3 Patterns at Trendline Resistance
Updated
AUDUSD has entered the PRZ of 3 bearish harmonic patterns. The zone falls in the sell area of a bearish Wolfe Wave and is backed by strong resistance. SL is placed above bat completion. Targets are set at .382 and .618 retracements of CD.Confluence in the PRZ:
- Bearish bat pattern completion (2X)
- Bearish crab pattern completion
- Bearish Wolfe wave
- Strong trendline resistance
- 2.24BC projection [bat]
- AB=CD pattern completion [bat]
- 2.24BC projection [bat]
- 1.618ab=cd [crab]
Trendline Resistance:
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Note
Target 1 has been hit - I am leaving the entire position open and moving SL to B/E as I believe this has potential to run to the target line.Trade closed: stop reached
SL reached at break even +0 Pips
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