Trade Ideas Position: AUDUSD Bat

A type 2 Bat has formed up, so what is a type 2 bat, it simply means a retest of the entry level of the bat pattern.

Although if the Bat has hit the 1st target during the setup and it is also a counter-trend move, it is not my favourite bat setup for a retest as some traders might have already exited this trade (losing the force to push it up). In this particular scenario, there is a RSI Divergence and I do see a good potential setup and further extend upwards for a shorting opportunity. That gives fantastic Reward:Risk(RRR), hence, I'm in.

Trade closed: target reached:

Target1 +17pips
Target2 +42pips