TomHall

AUD/CHF - Bullish Bat Pattern

FX:AUDCHF   Australian Dollar/Swiss Franc
457 0 12
On the AUD/CHF             4hr chart we have a potential long opportunity in the coming days at the D leg completion of the Bat Pattern .
The price reversal zone that is of interest is between 0.6581 & 0.6531.

The X leg of any pattern should usually be drawn from a historically respected support or resistance area .
On this occasion the X leg has been drawn from the AUD/CHF             historic low at 0.6531, which also coincides with the bottom of the channel on the Monthly chart.

It is possible to get short at the break of the B leg support at 0.6754, but it is advised to await a D leg completion at 0.6581 before looking to take any action.

Potential targets for the Bat Pattern placed at the .382% and .618% retracement of the C to D move.
Stop loss would be placed below X leg structure support .

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