AUDUSD potential Bat pattern at possible reversal area

FX:AUDUSD   Australian Dollar / U.S. Dollar
Here we got the infamous Bat pattern that gives us that good R:R we loves so much to get the week started. The setup appeared after we got a good cluster of double / triple bottoms to make a "floor" or a support area where we can put our stop behind to give os some protection. Bear in mind this is a very counter trend trade, but its also a high reward one!

On this pair we have normally around 50-55 % win ratio with the good win ratio we are making money with this very simple setup even if we were are only correct less than 30% of the time. So i always tell traders simple is better, it makes it more easy to be emotionless and stick to your rules even after a string of loosers.

Well just a small thing from me so you got something to monitor, remember we like to see an RSI in the overbought area before we go long.

Kind regards
Thomas Jeff
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