MichaelCollins18

GBP/AUD Bearish Bat on a 4 hour chart

Short
OANDA:GBPAUD   British Pound / Australian Dollar
Good afternoon everyone, here we have a Bearish bat on a 4 hour chart having formed from GBP/AUD

This is a amazing trading opportunity with a risk reward ratio of over 1:3

The valid measurements for a valid bat pattern are listed below:

B: 0.382 - 0.50
C: 0.382 - 0.886
D: 1.618 - 2.618
Final X to D: 0.886

I can see that RSI and EM200 are suggesting price has been overbought so I'm entering this trade right now.

Hope you have a good week ahead folks.





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.