Hi traders,
On the AUDUSD we can see a potential bullish bat pattern forming. Entry and completion at point D. Normally the point D would be the 88.6% FIbonacci retracement of the XA leg, but I've put it down a bit. This way I can put the stop below the December 24 low and still have a nice R:RR.
Entry: 0.71660
Stop: 0.71498
Target: 0.71984 = R:RR 2
On the AUDUSD we can see a potential bullish bat pattern forming. Entry and completion at point D. Normally the point D would be the 88.6% FIbonacci retracement of the XA leg, but I've put it down a bit. This way I can put the stop below the December 24 low and still have a nice R:RR.
Entry: 0.71660
Stop: 0.71498
Target: 0.71984 = R:RR 2
Order cancelled
