AUDUSD Analysis – BAT Pattern Lining Up With Ascending Triangle
Hey Traders ! Not much on the radar this morning, particularly after that huge gap we got on some of the pairs following the sunday open. These elections ar driving the markets nuts, so much uncertainty has people shifting money quicker than they’ll make up their minds. best thing to try to to when there’s so much uncertainty, is to stay on the sidelines. there is a trader i know that says something terribly true, “FLAT is a position” and how true that’s.
Anyways, today we’ve a BAT pattern in it’s infancy, not sure if it’ll even come down to break the B leg, however, being the markets ar so volatile, do not be surprised if price shoots down as a false breakout and then continues upwards. Ascending Triangles have a tendency to go up rather than down. As you know, stops below X, targets the fib retracements of the longest swing in the pattern.