sleutha
Short

BAT Pattern on GBPAUD

FX:GBPAUD   British Pound / Australian Dollar
62 1 3
Enter when the price action tests the black dotted line, so around (1.948 price)
Trading the D leg of the BAT on to SHORT side to 1.9108 giving me a nice (+2.69)R/R trade meaning I only need to win this trade 4 times out of 10 to be profitable trader.

After completion of D leg I will be trading LONG with first target at 1.9304 and second target at 1.9448 giving a (+2 R/R trade to first target and a (+3.39 R/R trade)
This trade is a beautiful example of the idea behind retesting of structure, we saw price go back to the dotted line but with a very bullish bar, and not (pin bars, nor bearish engulfing or any of the confirmation bars where shown on the chart so, in the end the trade was INVALID and not traded so always look for confirmations even after you have analysed
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