There is a bullish bat
that has just completed on the 15M TF. Why do I point this out? If you have followed my posts on this pair, you would know that I am currently bullish
on it (see Related Ideas: "UPDATE #2: AUDUSD: Is it time to BUY? Filled Crab
says YES!") as per my analysis. In that last post, there was also another larger bullish crab
that was completed and currently patiently awaiting for prices to start moving up towards the profit targets.
I am not pointing out this 15M bat for the purpose of taking profit from it. I am pointing it out because it may signal the beginning of the larger move up. Or it may be just more consolidation.....
At this time, prices are still consolidating near the current lows and seem to be making an expanding triangle pattern
. Expanding triangles at the end of a trend are usually reversal patterns.