Potential Bullish Bat Pattern. GBP/AUD Daily/4hr chart
The GBP/AUD are currently in an upward channel. The 86% fib level is falling around the bottom trend line. Some clear previous support and resistance levels also around this level.
Plan: To monitor on smaller time frame if price starts to move toward the 86% fib area. Long position at the 86% . Stop below the X leg. To be aware of any data coming out. Aware of any long candles indicating a lot of selling pressure.
Plan: To monitor on smaller time frame if price starts to move toward the 86% fib area. Long position at the 86% . Stop below the X leg. To be aware of any data coming out. Aware of any long candles indicating a lot of selling pressure.