On the AUD/CHF 1h chart we have a potential long opportunity at the D leg completion of a small Bat Pattern .
The price reversal zone between 0.6895 & 0.6905 is very narrow on this setup, this is due to a deep B leg retracement.
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Due to a strong B leg retracement the D leg will complete at the X leg ( Double Bottom ) giving us a little more confirmation to look long.
Potential targets for the Bat Pattern placed at the .382% and .618% retracement of the C to D move.
Stop loss would be placed below X leg structure support.
Website.
www.UKForexSignals.com
Learn To Trade The Bat Pattern .
The price reversal zone between 0.6895 & 0.6905 is very narrow on this setup, this is due to a deep B leg retracement.
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Due to a strong B leg retracement the D leg will complete at the X leg ( Double Bottom ) giving us a little more confirmation to look long.
Potential targets for the Bat Pattern placed at the .382% and .618% retracement of the C to D move.
Stop loss would be placed below X leg structure support.
Website.
www.UKForexSignals.com
Learn To Trade The Bat Pattern .
