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FOREXN1
Oct 31, 2022 9:45 AM

AUD/USD:SELL From BAT Pattern Bearish RSI+Stoch. SHORT Setup Short

Australian Dollar/U.S. DollarFXCM

Description

AUD/USD is in a strong downtrend, in the last session the price created a Bearish BAT Pattern and as you can see, where the price reacted with a row of red candles today, looking at the chart, we can see the price again under the 100 Moving average with the RSI Turned Bearish and the stochastic in overbought ready for a new push down. Our Idea is about a new bearish impulse in the direction of the main trend. The Alternative scenario will come if the price goes over the last swing high at 0.6547 which it is placed as the stop loss of our idea.

Comment

Comments
DeGRAM
Great chart analysis.
FOREXN1
@DeGRAM, Thanks !
ProjectSyndicate
similar outlook. thank you for the updates
FOREXN1
UnknownUnicorn493766
Look's more like a bottom followed by an increasing price higher. I think the alternative is the better option.
FOREXN1
@gremic, Thanks for your comment !
FOREXN1
If you like our Idea , Please HIT the LIKE Button on this :)
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