EURAUD Potential Bearish Bat
Looks like a bearish bat pattern is nearing completion on the 60 for EURAUD (though point C is neither a .382 or a .886...) This is nice because it's going with the bearish trend and although we're seeing some bearish movement, I'm hoping that's just so it can get enough steam to make it to the .886.
RSI(14, close) shows we're almost overbought using 80 as overbought, so it looks like the stars might align.
Stops above X. I chose a spot right above X's next closest high, though anything above X invalidates the pattern so it could probably come down a little. TP1 @ the .382 retracement, TP2 @ the 0.618.
RSI(14, close) shows we're almost overbought using 80 as overbought, so it looks like the stars might align.
Stops above X. I chose a spot right above X's next closest high, though anything above X invalidates the pattern so it could probably come down a little. TP1 @ the .382 retracement, TP2 @ the 0.618.
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