AUD/JPY - Bearish Bat
Hello, traders!
Here in Scotland with LewisGlasgow and @ KyleMcquade! We are having a great time building bonds, growing and learning with the Six Figure Capital team!
Today, we have spotted a bearish bat on the 4H chart with AUD/JPY.
Once price hits D point (87.140), we can look to enter out position and sell it down to 83.750.
The take profit level shows confluence in respect to the support line I have shown just below the pattern.
Risk/Reward Ratio - 1:3
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
Here in Scotland with LewisGlasgow and @ KyleMcquade! We are having a great time building bonds, growing and learning with the Six Figure Capital team!
Today, we have spotted a bearish bat on the 4H chart with AUD/JPY.
Once price hits D point (87.140), we can look to enter out position and sell it down to 83.750.
The take profit level shows confluence in respect to the support line I have shown just below the pattern.
Risk/Reward Ratio - 1:3
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
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