What's up everyone, here we have AUD/JPY with two bearish bat patterns on the 4h chart.
Excellent opportunity with over 1:3 risk to reward.
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
Price has dropped from the first reversal area, I'm expecting one more move up to test the key level of resistance at 87.400.
I hope you all have a great week!
Excellent opportunity with over 1:3 risk to reward.
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
Price has dropped from the first reversal area, I'm expecting one more move up to test the key level of resistance at 87.400.
I hope you all have a great week!
📈 Master the Art and Science of Trading: www.sixfigurecapital.com
