AUDCHF: Completed bearish Bat pattern

AUDCHF completed a bearish bat pattern in a strong resistance zone. Price exceeded X leg of the bat with some pips but it didn't close above it. The interesting part is that CD leg is having divergences and this a a nice signal that price completed or is at the end of the wave completion. One possibility is that price can extend in the red zone but as long as it is breaking the 240 min trend line the possibilities are for the downside move. Price can continue higher only if we are going to see a complex correction at this point.

Good Luck!

Kommentera: