AUDUSD BAT/GARTLEY Target 2 at same level 5MIN
Lot of ratios going on here, there is two pattern, however we can't tell which one is going to complete. The thing we are pretty sure of is that the market is either going to 0.9382 then to around 0.9347 or 0.9337 then 0.9379 and 0.9347. Don't worry about the these prices, just look at the screen shot and look at the blue and orange arrows.
We can tell than the bat pattern is the quickest way around, but market seems to go down to 0.9338.
The interested thing is that if we draw the fibs for each patterns (fib from A to D) we get the first target at 0.386 and second target at 0.618, like all other patterns. But the second target are exactly at the same level.
Either way, there a good chance the market is going to get there, and one of the pattern will complete.
I would now be thinking of the grey box has the next potential reversal zone...
We can tell than the bat pattern is the quickest way around, but market seems to go down to 0.9338.
The interested thing is that if we draw the fibs for each patterns (fib from A to D) we get the first target at 0.386 and second target at 0.618, like all other patterns. But the second target are exactly at the same level.
Either way, there a good chance the market is going to get there, and one of the pattern will complete.
I would now be thinking of the grey box has the next potential reversal zone...