FX_IDC:AUDNZD   Australian Dollar / New Zealand Dollar
Here on the 4h chart of AUD/NZD             we have a potential long Bat Pattern opportunity .

As you can see price on the 4h is falling into strong structure support , which if broken should indicate a push lower to a D leg completion.

Depending on your trading plan and style, you could get short at the break of the B leg support level in anticipation that price will complete at the D leg of the Bat Pattern .
A more conservative approach would be to await price to complete at the D leg of the Bat Pattern before getting long.

I feel both the aggressive and conservative approach are plausible, but always trade your plan.

Anymore information don't hesitate to contact me.

Have a great trading week.
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i´ve got the same one on the radar, though i´m worried about the minor resistance comming in a little above our D completion, but lets see how it´s going to play out, but that would keep me from getting short from the break of B leg.
I wrote you earlier today about the forum on IG Kind regards
Thomas Jeff
TomHall TOP ThomasJeff_DCM
Hi Thomas,
I agree, personally i don't trade patterns until they complete at the D leg, however some traders like to trade aggressive at certain points of a pattern.
It is all a waiting game now, patience is the key.
Normally i make a pending order after it goes below the B leg on for an example a Bat pattern so i don´t miss it if i´m not there when it complete. My win ratio to TP1 is about 55-65% on these so i just let the odds play out on my 10 pair portfolio that is backtested and proven over time
Interesting on the long time frame. The recent drop is quite sharp and I think it definitely could end up to your entry. With that in mind, it is due for a retracement and I bet one is coming on the 1h 2week timeframe.


+1 Reply
TomHall TOP asiansupermarket
I agree, If it can break and close below the B leg support level, this should then act as resistance for a small retracement before a continuation to the downside.
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