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

AUDCAD has completed a series of bearish patterns at an important .382 retracement level. Two bearish crabs are confluent with a bearish Gartley pattern and a bearish Wolfe Wave 2-4 parallel. To add to the bearish bias, the unhit pivot for the month of December is precisely confluent with 50% retracement of the green crab CD leg. SL is placed above WW entry with target at the December pivot/.5CD.

Confluence in the PRZ:

• Bearish Gartley pattern completion
  
• Bearish crab pattern completion (2X)
  
• .382 Fib S/R level
  
• Bearish Wolfe wave setup
  
• Unhit December, 2015 pivot below price
  

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Trade ist aktiv:

Nice rejection of price at top of parallel channel:

Kommentar:

Nice place to add: