Very powerful potential short setup in AUDCAD.
Reasons:
- Bearish Gartley pattern
- Bearish AB=CD pattern with D point exactly at the same as gartley's
- Key horizontal resistance zone (purple zone in chart)
- Elliott wave cycle 5-3 completion
- Overall trend is a downtrend
If price reaches our gartley's D point at 0.786 then we'll have a high probability short setup with all the above reasons opening the doors to a sell off.
Like and comment,
John
Reasons:
- Bearish Gartley pattern
- Bearish AB=CD pattern with D point exactly at the same as gartley's
- Key horizontal resistance zone (purple zone in chart)
- Elliott wave cycle 5-3 completion
- Overall trend is a downtrend
If price reaches our gartley's D point at 0.786 then we'll have a high probability short setup with all the above reasons opening the doors to a sell off.
Like and comment,
John