AUDUSD Short - BAMM Theory
Good morning,
This week I am aiming to trade more on the 1 hour charts- mainly to fill in the time in between larger price fluctuations; I will be looking for movements that suit the larger time frame! On the 4 hr chart we have a long crab pattern but price still has some way to go until it meets the D point. Above you can see a short position on the 1 hour, that would support this- We have a bearish BAMM (Bat Action Magnet Method) formation. For this to form, we need a valid bat pattern (check) whilst we wait for price to break and close below the B level (0.782). At such time we will enter our short position and hold until price reaches the final D point (PRZ). Risk should be at least 1:2, as always.
This week I am aiming to trade more on the 1 hour charts- mainly to fill in the time in between larger price fluctuations; I will be looking for movements that suit the larger time frame! On the 4 hr chart we have a long crab pattern but price still has some way to go until it meets the D point. Above you can see a short position on the 1 hour, that would support this- We have a bearish BAMM (Bat Action Magnet Method) formation. For this to form, we need a valid bat pattern (check) whilst we wait for price to break and close below the B level (0.782). At such time we will enter our short position and hold until price reaches the final D point (PRZ). Risk should be at least 1:2, as always.
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