GBPAUD: Bullish Bat Pattern (4hr Chart)
GBPAUD has been in a bullish trend for some time (check the daily chart).
Here are the things that I see:
IF/THEN:
Comments, suggestions, and different ideas are welcomed.
Here are the things that I see:
- Two Structural Levels around 2.15 and 2.105.
- Price action currently at the 2.15 structural level.
- Minor structure at 2.17690: Matches with a 0.5 retracement of 2.15 structure and C leg.
- Bullish Bat Pattern completing within the 2.105 structural level
IF/THEN:
- If price action breaks the 2.15 structure, then we could see continuation down to Bat Pattern Completion.
- If price action bounces off of the 2.15 structure, then we could see a retest of structure at 2.17690 for which it will be a great selling opportunity with Targets set around 2.15 and Bat pattern completion.
- If price action breaks the structure at 2.17690 and the A point, then we could see a continued Bullish Pattern.
- If price action breaks the X leg, then we could be seeing a complete trend reversal.
Comments, suggestions, and different ideas are welcomed.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.