AUDUSD has completed 3 separate bearish bat patterns in a bearish Wolfe Wave sell zone. This placement of the SL and TP will still be technically valid if the FOMC spike is ignored by traders and the pair rises to the .73 area again. If traders respect the spike then a drop from current levels is what I would expect. If the trading strategy calls for two targets, the first target may be placed at the WW 1-4 target line.Confluence in the PRZ:
1. 2 Bearish Bats
2. 1 Bearish Alt. Bat
3. 2AB=CD
4. 2.618BC
5. Missed Weekly Pivot
6. Missed Daily Pivot
7. Wolfe Wave Sell Zone
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.