AUDCAD: Sell-CYPHER and BAT pattern

On 240 min we have a bearish CYPHER pattern completed and a bearish BAT pattern. Blue arrows create an ABC structure at the BAT completion point. So the red box can be a strong resistance zone for a sell setup. We can see also divergences.
Wait for confirmation before entering the trade.

1.Bearish Cypher & BAT patten
2. ABC structure
3.Divergeces

Komentar:

During yesterday was created a Deep Crab pattern in (green) in the big 240 min picture. Maybe this is of the trend up considering the place where the Crab was created. Anyway there is also a positbility that the price can retest the blue zone before going down. On the 60 min time frame we have a small confirmation for the downside move.

Komentar:

Komentar:

Butterfly pattern completed and this can be the last adcanced pattern also for the beginning of a new trend to downside.