TerryHarmonicTrading

AUDUSD - Bullish bat or Bullish Alt-Bat?

Long
FX:AUDUSD   Dollar Australien/Dollar Américain
Hey guys, if you have been following my analysis, there is a trend you will see.

1. I always follow up on my analysis
2. It is systematic with a proven trading system which is Harmonics + Price Action

Observation

1. NFP failed to push AUDUSD to my short target around 0.7750.
2. It created a nice double top which also has a bearish divergence in RSI

Pattern identification

1. Bat pattern at 0.7560
2. Alt-Bat pattern at 0.7540

The way patterns play out, this pattern could complete at the 2 prices I listed.

Execution

1. Wait for price to come down and enter 1/2 my usual trading position at 0.7560 and 1/2 and 0.7540. (Risk 1/2 percentage each)

2. SL will be at 0.75 with profit targets still at my longer term short target 0.7750.

3. Great R:R trade for your consideration

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