AUDUSD - Bullish Bat Completion
This is a rather slow moving currency pair.
Even during FOMC, it did not move much.
Looking at the 4 hour trend, the bullish move since May 2018 looks intact, trend is still bullish until the key support at 0.97 is broken.
Based on the rules of the bat pattern, this is how I will trade this setup.
EP 0.9730 - 0.9740
SL 0.9685
TP1 0.9813
TP2 0.9857
The key is to react after the market reacts around the entry zone.
A good prz will result in in a good reaction after the market touches this level, a big break below the PRZ will invalidate the whole setup.
This is why I do not use pending orders to execute my setups.
Good luck and good trading!
Even during FOMC, it did not move much.
Looking at the 4 hour trend, the bullish move since May 2018 looks intact, trend is still bullish until the key support at 0.97 is broken.
Based on the rules of the bat pattern, this is how I will trade this setup.
EP 0.9730 - 0.9740
SL 0.9685
TP1 0.9813
TP2 0.9857
The key is to react after the market reacts around the entry zone.
A good prz will result in in a good reaction after the market touches this level, a big break below the PRZ will invalidate the whole setup.
This is why I do not use pending orders to execute my setups.
Good luck and good trading!