Hello traders, it appears GBP/AUD is now forming a bullish bat pattern on the 1h chart. This is an excellent opportunity with a potential 400+ pip return!
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
I'll be expecting price to stall out once it reaches the daily trendline at the D point, keep this setup on your watch list.
I hope you all have a great week :)
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
I'll be expecting price to stall out once it reaches the daily trendline at the D point, keep this setup on your watch list.
I hope you all have a great week :)
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