GBPAUD may potentially complete 3 bearish advanced patterns which would all be confluent with a bearish Wolfe Wave setup. To add to the bearish bias, an unhit weekly pivot sits below price. This provides for a nice target since it coincides with .618CD. SL is placed above X.KILL ZONE CONFLUENCE:
- Bearish cypher pattern completion
- 2.24AB=CD (cypher)
- 1.618BC projection (cypher)
- Bearish bat pattern completion
- 1.272AB=CD (bat)
- 1.618BC projection (bat)
- Bearish crab pattern completion
- 1.618AB=CD (crab)
- 2.382BC projection (crab)
- Bearish Wolfe Wave setup
- Unhit weekly pivot below price
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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.