Once again we are looking at AUD but this time we are on a 4h chart with AUD/CAD another potential reversal pattern indicating weakness in the currency. I'm loving the look of this, you can see we recently broken out from a very aggressive ascending channel creating our X point further creating our A, B, C and potential D point on the chart.
All-round we have a very good opportunity, we are trading with over a 1:3 risk to reward. I will be waiting for further confirmation before entering!
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
Do you want more trading inspiration? Connect with me below :)
Instagram: www.instagram.com/lewglasgow
Facebook: www.facebook.com/lewglasgow
All-round we have a very good opportunity, we are trading with over a 1:3 risk to reward. I will be waiting for further confirmation before entering!
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
Do you want more trading inspiration? Connect with me below :)
Instagram: www.instagram.com/lewglasgow
Facebook: www.facebook.com/lewglasgow
📈 Master the Art and Science of Trading: www.sixfigurecapital.com
