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glennmercer

Short EURAUD: Bat + Alternate Bat + Wolfe Wave

Short
Euro / Australian Dollar (FX:EURAUD)  
glennmercer  
FX:EURAUD   Euro / Australian Dollar
Wolfe Wave Bat Alternate Bat Bearish Bat Harmonic Patterns Harmonic Patterns PRZ targetline confluence AB=CD bcprojection
5
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wolfewaves batpattern alternatebat bearishbat harmonicpatterns harmonicpatterns prz targetline confluence abcdpattern bcprojection
EURAUD showed great strength today after hawkish comments from ECB president Mario Draghi sent it rallying through my previous PRZ. I am again bearish on this pair as there are two bat setups completing near an optimal Wolfe Wave sell zone. A new daily pivot sits below price to add to the bearish bias. Targets are placed at the new pivot and near the 1-4 WW target line.

Confluence in the PRZ:
1. Bearish bat completion
2. Alternate bearish bat completion
3. Wolfe Wave sell zone
4. 2AB=CD
5. 1.786AB=CD
6. 3BC Projection

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