Short EURAUD: Bat + Alternate Bat + Wolfe Wave

Sep 23, 2015

EURAUD showed great strength today after hawkish comments from ECB president Mario Draghi sent it rallying through my previous PRZ. I am again bearish on this pair as there are two bat setups completing near an optimal Wolfe Wave sell zone. A new daily pivot sits below price to add to the bearish bias. Targets are placed at the new pivot and near the 1-4 WW target line.

Confluence in the PRZ:
1. Bearish bat completion
2. Alternate bearish bat completion
3. Wolfe Wave sell zone
4. 2AB=CD
5. 1.786AB=CD
6. 3BC Projection

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