AUD/CHF - Daily Chart - Bat Pattern
Here on the daily chart of AUD/CHF we have nice Bat Pattern setup.
With a D leg completion of the Bat Pattern just above historically the lowest price, this structure support should hold and act as a solid reversal zone.
Taking a Fibonacci of the C to D leg gives us a .382 Target 1 at structure resistance, which is a perfect area to take of half of our position and move stops to break even.
On the RSI 1h / 4h and Daily time frames, we have bullish divergence giving us more confluence to look long.
- Stop Loss below X
- Target 1 at .382 Retracement ( Once Target 1 is achieved, half of position taken and SL moved to break even )
- Target 2 at .618 Retracement
Good luck.
Here on the daily chart of AUD/CHF we have nice Bat Pattern setup.
With a D leg completion of the Bat Pattern just above historically the lowest price, this structure support should hold and act as a solid reversal zone.
Taking a Fibonacci of the C to D leg gives us a .382 Target 1 at structure resistance, which is a perfect area to take of half of our position and move stops to break even.
On the RSI 1h / 4h and Daily time frames, we have bullish divergence giving us more confluence to look long.
- Stop Loss below X
- Target 1 at .382 Retracement ( Once Target 1 is achieved, half of position taken and SL moved to break even )
- Target 2 at .618 Retracement
Good luck.