Trade Ideas Position: GBPAUD Bat

Bearish Bat trading opportunity on this setup. To many harmonic patterns traders, this bearish bat might already be invalid but not for me. The red line act as a Profit Trend Line, if you don't know what is Profit Trend Line then you might have learned this from the wrong source.

It is still valid for a short because it does show a series of lower-high and RSI Divergence in the earlier part.

It is still a countertrend trade, if this doesn't feels right to you, don't enter.

Trade active:

Stop-Loss Entry(SLE) : 1.8134(+6)

Trade active:

TP1: 1.8060(+80)

Trade closed: target reached:

TP2: 1.7866(+274pips)
Both targets are extended targets and I treat each individual targets as individuals trade. Total Pips capture in a single trade 354pips.

Comment:

Well, to most Certified Harmonic Bat Pattern Trader, this is no longer a bat pattern, but to me this is not the case.
1) I know GBPAUD quite well and I like to called him THE JUGGERNAUT, it is more volatile than THE BEAST, GBPJPY so expects some high volatile move and can be "whip-sawey" on a much lower timeframe.
2) Although the supposed Stop-Loss his hit, there is something known as 2nd chance entry or better known as Type2 Trade for Harmonic Patterns and it is within the Profit Trend-Line that you can see, hence, I've entered.

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