The bearish bat harmonic pattern is a technical chart pattern that can be used to identify potential selling opportunities in the USD/AUD currency pair. In this case, the pattern has formed and a short trade entry has been identified at a price of 1.4856. The stop loss has been set at 1.4929, which is above the recent high of the pattern, to limit potential losses if the trade goes against the trader.
The take profit level has been set at 1.4783, which is below the recent low of the pattern, indicating a potential price target for the trade. This level represents a potential profit opportunity for the trader. However, it is important to note that there is no guarantee that the trade will be profitable, and traders should always use risk management techniques and trade with caution.
The take profit level has been set at 1.4783, which is below the recent low of the pattern, indicating a potential price target for the trade. This level represents a potential profit opportunity for the trader. However, it is important to note that there is no guarantee that the trade will be profitable, and traders should always use risk management techniques and trade with caution.
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