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glennmercer

Short AUDCAD: Strong TL Resistance at Critical Level

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Dolar Australia/Dolar Kanada (FX:AUDCAD)  
glennmercer  
FX:AUDCAD   Dolar Australia/Dolar Kanada
Gartley Crab Harmonic Patterns confluence Trend Lines PRZ Relative Strength Index (RSI) rsi_divergence glennmercer gmercerfx AUDCAD
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gartleypattern crabpattern harmonicpatterns confluence trendline prz relativestrengthindex rsi_divergence glennmercer gmercerfx audcad
AUDCAD has completed several bearish patterns at a significant area of resistance. In addition to containment inside of an upward channel there is a strong trendline beginning in April, 2013 that may help contain price inside of the PRZ. There is also an unhit monthly pivot below price to add to the bearish bias. RSI is bearish divergent on the 4 hour chart as well. SL is placed above recent highs with targets at bullish AB=CD/bullish Gartley completion and the completion of a bullish bat pattern on the weekly chart.

Confluence in the PRZ:
  • Bearish crab pattern completion
  • Bearish Gartley pattern completion
  • Strong trendline resistance
  • Bearish RSI divergence
  • RSI overbought
  • Unhit monthly pivots below price
  • .382AB

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Idea Berkaitan

glennmercer
AUDCAD Short: Gartley, 2 Crabs, Wolfe Wave, Pivot, S/R
Penafian

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