🐻📉 AUDUSD Alert! Bearish Bat Pattern Signals Sharp Correction
Updated
🚨 Attention traders! We have an exciting bearish setup on AUDUSD that you don't want to miss. Our previous bullish setup on AUDUSD was a resounding success, allowing us to secure profitable gains. Now, it's time to switch gears and capitalize on a new opportunity as the tide turns bearish. 📉🦅 The formation of a bearish bat pattern, coupled with two strong confirmations, suggests a sharp correction is on the horizon.
The bearish bat pattern has emerged, indicating a trend reversal. This harmonic pattern is known for its high success rate and presents an excellent opportunity to capitalize on the downward movement.
confirmation n°1 : Adding to the bearish thesis, the last candlestick has formed a rejection pattern precisely at the resistance level, highlighting significant selling pressure in this area. This optimal entry point allows us to ride the anticipated sharp correction.
confirmation n°2 : Furthermore, the RSI indicator is currently in the overbought zone, signaling a potential shift in momentum. This further supports the bearish setup and increases the probability of a downward move.
To take advantage of this setup, I recommend entering a short position around 0.68775. Our first take profit level is set at 0.67900, which coincides with a liquidity pool where potential support could be found. Our target stands at 0.67000, representing a significant downside potential.
Keep in mind the importance of proper money management. It is essential to respect your risk tolerance and avoid risking more than 2% of your account on any given trade. Stay disciplined and protect your capital. 💰💪
Feel free to share your toughts in the comments section, follow me for updates and don't forget to press the like button if this insight was helpful 🚀
The bearish bat pattern has emerged, indicating a trend reversal. This harmonic pattern is known for its high success rate and presents an excellent opportunity to capitalize on the downward movement.
confirmation n°1 : Adding to the bearish thesis, the last candlestick has formed a rejection pattern precisely at the resistance level, highlighting significant selling pressure in this area. This optimal entry point allows us to ride the anticipated sharp correction.
confirmation n°2 : Furthermore, the RSI indicator is currently in the overbought zone, signaling a potential shift in momentum. This further supports the bearish setup and increases the probability of a downward move.
To take advantage of this setup, I recommend entering a short position around 0.68775. Our first take profit level is set at 0.67900, which coincides with a liquidity pool where potential support could be found. Our target stands at 0.67000, representing a significant downside potential.
Keep in mind the importance of proper money management. It is essential to respect your risk tolerance and avoid risking more than 2% of your account on any given trade. Stay disciplined and protect your capital. 💰💪
Feel free to share your toughts in the comments section, follow me for updates and don't forget to press the like button if this insight was helpful 🚀
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the bearish engulfing is even more obvious in 1H timeframeTrade active
Note
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