GBP/AUD: Back to support with this bat?
A bat and several harmonic AB=CD patterns give quite a wide combined PRZ.
I will use the bat to short this pair.
Targets are at fibs and/or S/R or the broken trendline (re-test?).
Any decent reversal in the PRZ lower than where the bat completes would invalidate this setup for me.
SL at the S/R zone above.
We could be in for some range trading between the S/R zones as shown in the chart, so if we reverse at the upper S/R one I might be adjusting my targets or I might enter additional shorts from that upper zone (target the lower S/R zone below 2.1000).
I will use the bat to short this pair.
Targets are at fibs and/or S/R or the broken trendline (re-test?).
Any decent reversal in the PRZ lower than where the bat completes would invalidate this setup for me.
SL at the S/R zone above.
We could be in for some range trading between the S/R zones as shown in the chart, so if we reverse at the upper S/R one I might be adjusting my targets or I might enter additional shorts from that upper zone (target the lower S/R zone below 2.1000).