CAD/CHFShort
Bearish Bat Cad-Frank
The daily chart on the cad-frank hasn't trended well in recent times and is currently in a declining channel. Scaling down to the 1 hr chart, price has reached the top of that channel just short of the .886 retracement of the bearish bat. This is the ideal time to get in short with a stop loss just above the X coordinate. As per usual practice, indicators aren't used in determining price action, although it doesn't hurt to have a look at the Relative Strength Index where you believe price is approaching a potential reversal zone. RSI looks to be entering an overbought level, bringing a higher reversal probability.
Bat Ratios
AB: 0.382-0.5
BC: 0.382-0.886
CD: 1.618-2.618
XD: 0.886
Bat Ratios
AB: 0.382-0.5
BC: 0.382-0.886
CD: 1.618-2.618
XD: 0.886
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.