What's up everyone, here we have AUD/NZD with a bearish bat pattern on the daily chart.
Excellent opportunity with over 1:2 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
The B point formed at a key level in the market, therefore I'm using this as my final take profit level rather than a 0.618 retracement of A to D.
I hope you all have a great week!
Excellent opportunity with over 1:2 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
The B point formed at a key level in the market, therefore I'm using this as my final take profit level rather than a 0.618 retracement of A to D.
I hope you all have a great week!
📈 Master the Art and Science of Trading: www.sixfigurecapital.com
