TomHall
Long

EUR.AUD - Bullish Bat Pattern - 1.4692

FX:EURAUD   Euro / Australian Dollar
On the EUR.AUD 1 hour chart we have a potential long opportunity at the D leg completion of a Bat Pattern

The price reversal zone on this pair is between 1.4692 & 1.4664
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.

Fibonacci Confluence: 88.60% - 161.80% - 141.40%
AB=CD Completion: 1.46850

Potential targets for the Bat Pattern placed at the .382% and .618% retracement of the C to D move.
There is also opportunity to look for extended targets at around 1.4883
Stop loss would be placed below X leg structure support .

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Hi, Tom, it nearly hit the PRZ, but now bounced up. Will you still think it's a valid setup of bat?
+1 Reply
Hi,
It is still valid yes, for me aslong as it doesn't surpass the C leg it will still be valid.
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