Here we have an advanced BAT pattern on the 1hr chart of GBPAUD, which nearly hit completion of friday evening. I don't trade solely off advanced patterns - i like to look for other entry reason and build up a score.
So in addition, we are at a level of higher time frame previous resistance, have an equal measured move, a 1.618 fib extension, rsi over sold and we're at the psychological number of 1.8100 - giving a nice area of interest.
The move from this area may of already begun, so I will be waiting for a double bottom or a Higher High Higher Close candle in this area.
If the trade gets activated i'll be looking to take targets below previous structure and stops an atr below the low.
GBPAUD
So in addition, we are at a level of higher time frame previous resistance, have an equal measured move, a 1.618 fib extension, rsi over sold and we're at the psychological number of 1.8100 - giving a nice area of interest.
The move from this area may of already begun, so I will be waiting for a double bottom or a Higher High Higher Close candle in this area.
If the trade gets activated i'll be looking to take targets below previous structure and stops an atr below the low.
GBPAUD