EUR/AUD - Bearish BAMM
Updated
EUR/AUD is almost ready to go! Bearish BAMM setup has formed on the 4h chart, providing a trading opportunity with a 1:2.33 risk to reward.
BAMM trading setups rely on a valid bat pattern, you'll find the relevant measurements below.
XA Retracement: 0.382 - 0.50
AB Retracement: 0.382 - 0.886
BC Projection: 1.618 - 2.618
XA Retracement: 0.886
The time proportions of this setup are absolutely spot on so far, we'll revisit this in a few days.
Currently waiting for a break and close below 1.63100.
BAMM trading setups rely on a valid bat pattern, you'll find the relevant measurements below.
XA Retracement: 0.382 - 0.50
AB Retracement: 0.382 - 0.886
BC Projection: 1.618 - 2.618
XA Retracement: 0.886
The time proportions of this setup are absolutely spot on so far, we'll revisit this in a few days.
Currently waiting for a break and close below 1.63100.
Trade active
Price closed below 1.63100, everything looks good for a sell.Note
Quick update for those who sold, we'll be looking to cover our position once price reaches the area of 1.61250.Note
Move your stop loss to break even, this should be near 1.62900.Trade closed: target reached
Position hit TP, onto the next one!
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