EURAUD Bearish Bat Pattern Potential Short Opportunity
CHART TIMEFRAME: H1
PATTERN: BEARISH BAT
PREDICTED PRICE ACTION: Resistance @ 1.57800-1.58000 is broken. Targets of the pair are 1.58500 and 1.58900. Bearish Bat would be completed at D 1.58920. Retracement towards Fibo 38.2 and 61.80.
AREA OF ENTRY: 1.58900 – 1.59200
STOP LOSS: 1.59900
TAKE PROFIT 1: 1.58500
TAKE PROFIT 2: 1.58000
TAKE PROFIT 3: 1.57450
NOTE: Wait for the price meets the area of entry and makes H1 closing.
FOR THE TRADERS WHO WANT TO TAKE THE LONG TRADE BEFORE SHORT
AREA OF ENTRY: 1.58100
STOP LOSS: 1.57600
TAKE PROFIT 1: 1.58900 UPDATE: TARGET REACHED 80 PIPS
IMPORTANT: Patience and Money Management are key to success in trading. Your risk ( Stop Loss ) must be maximum 1%.
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.