FX:GBPAUD   British Pound / Australian Dollar
Hello Traders,

Here we have a valid bullish bat pattern on FX:GBPAUD             , which is accompanied by a bullish harmonic move that will be completing just before the bat pattern completion point. On the daily time frame, this pair has put in only a lower low BUT not a lower low lower close. So the structure has been violated on the daily which is an early indication of possible weakness (even if it is for short-term) in the bullish trend . Thus we need to see another lower low to confirm the beginning of a downtrend (even for short-term). So for this setup we are expecting the minor trend on the 4 hour to hold and continue higher. The R:R for this setup is 2:1 for the 1st target. We are also getting fibs confluence right at the bat pattern completion point. See the chart above for more details.

Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. Good luck everyone :)

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Trade active: Hello Traders, entry has been triggered. Currently 87 pips away from 1st target :)

Comment: UPDATE #1: Hello traders, our first target of +208 Pips has been achieved. Stops move to break even :)

Trade closed: target reached: UPDATE #2: Hello Traders, 2nd target has been reached. All positions are now closed for this setup :)

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