Bearish Bat GBPAUD 4H Doubtful idea but open for discussion
I will only watch how this unfolds as 'when in doubt just stay out' rule applies here.
I am doubtful about how I have drawn the trend line.
But if my trend line is acceptable then a sell limit order of X2A Fib Retracement of .886 @ 2.08646 of this BAT comes near the trend line which may act as resistance again & it may reverse.
Similarly if my trend line is not acceptable then we have one less strong reason for entry for this bearish bat.
This idea will be a lesson and be in one of my lab tests and a journal for future.
Please free to comment so that I can gain your insight on this idea & improve my skills as well as rectify my mistakes.
I am doubtful about how I have drawn the trend line.
But if my trend line is acceptable then a sell limit order of X2A Fib Retracement of .886 @ 2.08646 of this BAT comes near the trend line which may act as resistance again & it may reverse.
Similarly if my trend line is not acceptable then we have one less strong reason for entry for this bearish bat.
This idea will be a lesson and be in one of my lab tests and a journal for future.
Please free to comment so that I can gain your insight on this idea & improve my skills as well as rectify my mistakes.