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AdamHong
Nov 10, 2016 11:36 AM

AUDUSD:Bearish Bat Pattern Short

Australian Dollar/U.S. DollarFXCM

Description

The bat pattern will complete at 0.775 lecel and the 1.618EXT of AB is at 0.777 level.
In addtion,the AB=CD pattern finishes at 0.774 level.
Meanwhile the previous structure also locates at this zone.
So it may be good to short at 0.774-0.777 levels when bearish candles appear.
SL:above 0.778
TP1:0.769
TP2:0.766 and further more

Trade active

Comment

The price slumps as expected.
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