2018Nov06 USDCAD H4 Possible Bearish Bat
USDCAD has been on a downtrend and is currently around the trendline resistance. A bearish cypher has completed and there is also a possible bearish bat. Upon confirmation of the bearish bias at the potential reversal zone, I will go short. Stop loss is just above the bearish bat X point. The take profit target is set at the 61.8 Fibonacci retracement level of the bearish cypher CD leg. Tentative details are as follows:
Trade Setup: Possible Bearish Bat
Price Entry 1.31563
SL 1.32016 | SL pips 45.3
TP2 1.29305 | TP2 pips 225.8
RRR2 4.98
Trade Setup: Possible Bearish Bat
Price Entry 1.31563
SL 1.32016 | SL pips 45.3
TP2 1.29305 | TP2 pips 225.8
RRR2 4.98
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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.