Trade: GBPAUD Bat Pattern Psychological Number Long Trade
Snapshot:

Reasons For Trade:
- Bat Pattern
- Psychological Number 2.0800
- This zone has been a strong demand zone in past
Stop Placement:
- Below Bat pattern’s X point
Targets:
- 38.2 Fib Retracement back up
- 61.8 Fib Retracement back up
Trade Execution:
- Wait for confirmation because the stop loss level is too wide and there have been few spikes in the zone previously.
Concerns:
- Price may touch 78.6 fib level of previous impulse leg XA and go back up as there is also fib confluence and ABCD pattern completion
Planned News/Events Expected:
TueOct 27 | 5:30am | GBP | Prelim GDP q/q | |
8:30pm | AUD | CPI q/q | ||
AUD | Trimmed Mean CPI q/q | |||
WedOct 28 | 8:30pm | AUD | Import Prices q/q | |
ThuOct 29 | 5:30am | GBP | Net Lending to Individuals m/m | |
8:30pm | AUD | PPI q/q |
Post Execution Review:
Pending
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