mjchase

AUDUSD Harmonic Bearish Bat ( 4 hour )

Short
FX:AUDUSD   Australian Dollar / U.S. Dollar
The Bat requires one of the smallest stops of the harmonic patterns.

The entry is at 88.60% of XA while the stop is at 100 %.

Also denoted on the chart is the 261.8% BC projection.

We can see on the lower timeframes price immediately reacts to the 88.60% entry point.

Both the 88.6% and 261.8% were broken in one bullish candle confirming entry.

If further interested in harmonic patterns please refer to Scott carney's extended works.
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