XAUUSD bullish bat pattern with 61.8% Fibonacci retracement

Hi traders,

On the XAUUSD we can see a potential bat pattern forming, which lines up perfectly with the 61.8% Fibonacci retracement of the move that initiated in June 2016. Target goes at the 38.2% Fibonacci retracement.
Entry: 1264.47
Stop: 1242.03
Target: 1305.50 = R:RR 1.83

Good luck! Updates will follow.