FX:GBPAUD   British Pound / Australian Dollar
129 1 6
Hi All, just thought I would get this out to keep on the radar, if we see price continue upwards it could provide a good opportunity for a shorting position retesting these highs. If we proceed downwards I have posted a previous Bullish Cypher Pattern, if price breaks this level of 2.15000 there is a larger BAT PATTERN and I will surely post this depending on which way we go.

As always Stops Red, Entry Green, Targets Blue

Stop Red at Minimum Level of the 1.113% - need to be above this and keep in mind the ATR on this pair.

Green is the Standard 88.6% entry for Bat Pattern - Fib Retrace From X to A Move

Targets we will be looking at initial Targets 1 just above the 38.2% Fib Retrace from A to D - after we have D completion we need to adjust our targets.

Target 2 we will be looking at initial Targets 2 just above the 61.8% Fib Retrace from A to D - after we have D completion we need to adjust our targets.

After we have reached our Target 1 we need to bring our second stop down to the Break Even entry level to protect our second position. I like to keep it just below entry to ensure it is actually break even maybe a few pips this should cover commission fee spread etc.

Remember if C leg goes past A then scrap this pattern

Good luck this week and happy trading
Targets 1 and 2 adjusted on this pattern
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out