Bullish Bat Pattern on AUD/CAD - Potential Reversal Setup

This analysis presents a Bullish Bat Pattern forming on the AUD/CAD (Daily Timeframe), signaling a potential reversal from the D point at 0.8593. The price has reached the completion zone of the harmonic pattern, aligning with key Fibonacci levels.

Key Observations:
The pattern follows X-A-B-C-D harmonic structure, with the D-leg completing near the 88.6% Fibonacci retracement of XA.

A strong rejection from this zone could indicate a potential bullish reversal.

The entry zone is near 0.8593, where buyers may step in.

Trade Setup:
Entry: Around 0.8593 - 0.8600

Take Profit Targets:

TP1: 0.8866 (50% Fibonacci retracement of CD)

TP2: 0.8930 (61.8% Fibonacci retracement of CD)

Stop Loss: Below 0.8550, allowing room for fluctuations.

Final Thoughts:
If price action confirms a bullish rejection with strong buying pressure, this setup offers a high-reward trading opportunity. However, invalidation occurs if the price closes below 0.8550. Monitor for confirmations like bullish candlestick patterns or RSI divergence before entering.