TradersClassroom

AUDUSD Bearish Bat Setting Up Within Channel

FX:AUDUSD   Australian Dollar/U.S. Dollar
53 3 1
Currently there is a bearish bat pattern setting up within a rising channel . If you look at the pair from the 4 hour, you will see we had a massive drop off followed by this rising channel . This could be setting up for the next drop lower. We are not really concerned with that, all we are focusing on is the action within the channel. But, could be something to look at later. As price reaches the completion point, look for a price action signal.

Trade Plan
  • Positions: 2 positions (1/2% each for 1% total risk)
  • Entry: .7829
  • Stop: .75
  • TP 1: .7771
  • TP 2: .7735
  • Move all stops to breakeven once TP1 is hit.

We are planning to release our Harmonic Trader Course tomorrow morning. If you would like on the notification list, please sign up here: http://fxtradersclassroom.gr8.com/

GOOD LUCK

andypjones
2 years ago
All the best to you
+1 Reply
TradersClassroom andypjones
2 years ago
Thanks Mate
Reply
TradersClassroom
2 years ago
Invalid
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out