AUDCAD is nearing the PRZ of two bearish harmonic patterns. The PRZ is confluent with resistance from a Fibonacci cluster (.618 and .786) formed by two structure highs and lows. To add to the bearish bias, there is a missed monthly pivot below price which coincides with .618CD. Entry is placed at the center of the PRZ with SL at 1.13XA (bat) and targets at the .382 retracement of the CD leg.
Confluence in the PRZ:
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Confluence in the PRZ:
- Bearish crab pattern completion
- Bearish bat pattern completion
- 3.382AB=CD
- 3BC Projection
- Fibonacci cluster
- Missed December, 2015 pivot below price
Thanks for your continued support and don't forget to click the thumbs up button and follow for future updates and more trade ideas!
交易進行:
Short active at 1.01028
