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Bearish Bat

Trade Ideas Position: GBPAUD BatA bearish bat may just be a better opportunity in engaging the trade. I chose to temporarily ignore the spike(black eclipse) as the market just spike down in seconds on a 396pips of market movement. It did give me my profits on that but also understanding the candlestick chart, I've chosen to intervene and exit trades for my second target that has already been summarised on my previous post(check link on related ideas below). I've plotted an equal distance move projection, and both of them terminate close to each other its ends near the resistance level too(look left). A break and close below the accelerated trendlines confirm the downward move.
Short
by RaynLim
Trade Ideas Position: GBPAUD BatGBPAUD has a reputation for significant movement as a currency pair, and it is not the most suitable for Harmonic Patterns. This trade has two major disadvantage to the setup: 1. Pattern completion is overextended 2. There is a strong bullish candle on D, and the market immediately went into consolidation. Why do I still engage the trade? 1. RSI Divergence 2. AUD has been very bearish for quite some time, a correction(bullish) may cause a pullback and all I need to see is a break and close below 1.9639 that allow me to shift stops to entry. Conservative traders can wait for the break and close below to happen before engaging the trade. Make your own trading decision and don't follow blindly.
Short
by RaynLim