Building a case for shorting the AUDUSD (potential bearish bat)
Building a case...
- A press back into previous support/resistance,
- Previous support/resistance zone lines up with a 61.8% retracement at 0.9337
- A potential bearish bat (with X from the intermediate move) with a completion at 0.9317
- An ABCD pattern with a completion zone between 0.9317 and a 0.93079
- RSI is oversold
Combining this information gives me an interesting PRZ to keep an eye on.
- A press back into previous support/resistance,
- Previous support/resistance zone lines up with a 61.8% retracement at 0.9337
- A potential bearish bat (with X from the intermediate move) with a completion at 0.9317
- An ABCD pattern with a completion zone between 0.9317 and a 0.93079
- RSI is oversold
Combining this information gives me an interesting PRZ to keep an eye on.