FullTimeTrader
Short

AUDCAD-D1-bearish bat near 1.000

FX:AUDCAD   Australian Dollar/Canadian Dollar
1767 14 22
Nice pattern almost complete near the strong psycholevel 1.000
We can place sell limit orders or wait for a reaction near that area.
SL and targets shown on chart.

Best regards.

*****************DISCLAMER********************************************************************
This is just and idea, not a recommendation to buy or sell.
Always do your own analysis and plan before opening a trade.
Any respectful and constructive ideas are welcome (agree or disagree).


Comment: Already In....
Hey Full Time Trader, just wondering, could the bat pattern be getting invalidated?
Reply
Sir, do you rhink same thing will happen to gbpcad as well? I think there is a possibility that a double top could have form on daily chart, hope you can post any idea about it. Thanks
Reply
BLKS BLKS
Think*
Reply
Hello, you are right, i was tracking a bearish bat on GBPCAD also but the SL was too big (see below). It seems price is reacting now, i will try to find setups on lower TF. Both are CAD related pairs so its not a good idea to overexpose the account. I've learned not to be greedy and catch all moves. Regards.

snapshot
+2 Reply
Agree sir, in my opinion i think we can enter now.
snapshot
Reply
BLKS BLKS
I was assuming it will had a pull back the trend line the rebound. Just an opinion =) Anyway, great work.
Reply
Yes! the cypher could work also. Regards.
Reply
BLKS FullTimeTrader
yeap, i am think it will continue rise only after at least the 1st target.
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Thanks for the trade! However, there is a nice trendline breakout on daily chart, what you think about this? I would enter long on the pullback, if there is one.
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Hello, i used to trade trendline breakouts before but know then dont work alone. We need other reasons to consider an entry. Im based on my EW count (see below). I expect one more correction to the downside so right now i will focus on shorts.
snapshot
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