AUDUSD BAT Pattern Lining Up With Ascending Triangle
Hey Traders !
Not much on the radar this morning, especially after that huge gap we got on some of the pairs following the sunday open. These elections are driving the markets nuts, so much uncertainty has people shifting money quicker than they can make up their minds. Best thing to do when there is so much uncertainty, is to stay on the sidelines. There's a trader I know that says something very true, "FLAT is a position" and how true that is.
Anyways, Today we have a BAT pattern in it's infancy, not sure if it will even come down to break the B leg, however, being the markets are so volatile, don't be surprised if price shoots down as a false breakout and then continues upwards. Ascending Triangles have a tendency to go up rather than down. As you know, stops below X, targets the fib retracements of the longest swing in the pattern.
Like always, If you have any questions feel free to comment below !
Not much on the radar this morning, especially after that huge gap we got on some of the pairs following the sunday open. These elections are driving the markets nuts, so much uncertainty has people shifting money quicker than they can make up their minds. Best thing to do when there is so much uncertainty, is to stay on the sidelines. There's a trader I know that says something very true, "FLAT is a position" and how true that is.
Anyways, Today we have a BAT pattern in it's infancy, not sure if it will even come down to break the B leg, however, being the markets are so volatile, don't be surprised if price shoots down as a false breakout and then continues upwards. Ascending Triangles have a tendency to go up rather than down. As you know, stops below X, targets the fib retracements of the longest swing in the pattern.
Like always, If you have any questions feel free to comment below !