I don't actively day trade the Asia session but we've just completed the bear Bat pattern that we were watching in today's Live Room session. Although I'm not personally interested in this trade, I'll be watching the reaction to this price level as it's been on my radar as an outside return for a longer-term short trend continuation opportunity on the daily time frame
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Hi Akil - I'm Assuming your looking on the AUSUSD Daily chart back as far as the 1.0600 'Angel Falls' decent and ignoring the dead cat bounce back up to 0.9800 for your bearish outlook. i would be more inclined to think of a bullish continuation up to that 0.9800 outside return - especially as it has just completed a bullish Bat at 0.9243 which may be enough to keep the upward momentum going. If the expected rise comes out of the bat pattern and a breakout of the present sideways flag comes about then the next obvious structure level is the peak of that bounce which would probably give some resistance to further upward move .
Your comments please.