On the AUD.USD 1hr chart we have a potential long opportunity's at the D leg completion of bullish Bat setup.
The price reversal zone on this pair is between .7566 & .7550
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Bat setup placed at the .382% and .618% retracement of the A to D move.
There is also an opportunity to look for extended targets at .7680
Stop loss would be placed below X leg structure support.
Target 1 - .7617
Target 2 - .7647
The price reversal zone on this pair is between .7566 & .7550
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Bat setup placed at the .382% and .618% retracement of the A to D move.
There is also an opportunity to look for extended targets at .7680
Stop loss would be placed below X leg structure support.
Target 1 - .7617
Target 2 - .7647
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Please note, although price has moved away from the D leg completion, the setup is still valid.
A consolidation period as been underway now making a wedge formation.
A push lower is now expected.