AUDUSD - Bullish Bat Developing (High Reward/Risk Pattern)
Bullish Bat developing.
RSI in overbought territory
Waiting for potential downward move for pattern completion (Price action about to violate the trendline/price channel) to place Buy at around 0.7250 level
Stop placed at 0.72300
TP 1 - 0.72942
TP 2 - 0.73216
Structure supports the 0.72500 area - there was alot of resistance here, and this should most likely be support now.
Trade Safely.
RSI in overbought territory
Waiting for potential downward move for pattern completion (Price action about to violate the trendline/price channel) to place Buy at around 0.7250 level
Stop placed at 0.72300
TP 1 - 0.72942
TP 2 - 0.73216
Structure supports the 0.72500 area - there was alot of resistance here, and this should most likely be support now.
Trade Safely.
Order cancelled:
Pattern Completion failed... will keep you updated of further developments