FX:AUDCAD   Australian Dollar/Canadian Dollar
1301 4 37
Firstly i should apologies for the recent inactivity in publishing charts, i shall be posting frequently again as of today.

On the AUD/CAD             4h chart we have a potential short opportunity at the D leg completion of a Bat Pattern .

The price reversal zone is between 0.9547 & 0.9576 however we have a strong psychological whole number at 0.96000 which will also be a key area to watch if price breaks above the X leg.
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.

Potential targets for the Bat Pattern placed at the .382% and .618% retracement of the C to D move.
Stop loss would be placed above X leg structure resistance .

Website.
http://www.UKForexSignals.com

Learn To Trade The Bat Pattern .
How To Trade The Bat Pattern.
Website: http://www.UKForexSignals.com
Instagram: http://www.Instagram.com/UK_Forex_Signals
Instagram: http://www.Instagram.com/Tom_Hall_Official
Twitter: http://www.Twitter.com/Tom_H_Official
StockTwits: http://www.StockTwits.com/TomHall
Facebook: http://www.Facebook.com/UKForexSignals
Hi there thanks for sharing where would you put your SL thanks in advance
+1 Reply
TomHall TOP rickdixon
Hi,
I couldn't give you an exact number, however whenever placing a stop loss on all advanced patterns they should be either above or below the X leg depending on if the patterns in bullish or bearish.
On the illustration above your stop loss would have to be placed above the X leg as this is the last leg of resistance.

I hope this helps.
Reply
...or you can use the ATR, but as the price jumps over X, the pattern becomes invalid anyway.
Anyhow, thanks Tom, job well done, just as your other posts. Lets se the D-leg completed... :)
+1 Reply
TomHall TOP sketchmaster
GT500 is correct, there are many ways of calculating your stop loss, this should be something you back test to see what works for you on the currency pairs you are trading.
+1 Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out