AUD/NZD - Bullish Bat + Bearish Bat + Trendlines
Hope everyone had a great weekend! Marks are about to open and I am PUMPED!
Just now, we are looking at the AUD/NZD on the 4h chart. I have targeted strong trendiness in the market along with TWO bat patterns!
The bullish bat has just finished completing at the end of last week.
Looking at the bigger picture, price points in the bullish bat compliment a much larger bearish bat that we can look to for a completion in the days to come.
Some might argue that some of the price points on these patterns are not spot on, however, the trend lines I have marked on the chart compliment the patterns shown, adding more confirmation to the prediction in price movements.
The measurements for a valid bat pattern are detailed below.
B: 0.382 - 0.50
C: 0.382 - 0.886
D: 1.618 - 2.618
Final X to D: 0.886
Just now, we are looking at the AUD/NZD on the 4h chart. I have targeted strong trendiness in the market along with TWO bat patterns!
The bullish bat has just finished completing at the end of last week.
Looking at the bigger picture, price points in the bullish bat compliment a much larger bearish bat that we can look to for a completion in the days to come.
Some might argue that some of the price points on these patterns are not spot on, however, the trend lines I have marked on the chart compliment the patterns shown, adding more confirmation to the prediction in price movements.
The measurements for a valid bat pattern are detailed below.
B: 0.382 - 0.50
C: 0.382 - 0.886
D: 1.618 - 2.618
Final X to D: 0.886
Penafian
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