moneymaking
Short

CADJPY: Bat pattern formed on 1 hour chart

FX:CADJPY   Canadian Dollar/Japanese Yen
Bearish Bat Pattern formed on 1 hour chart. Market is near the overbought zone. Stops can go 10 to 20 pips above the X point. We also see RSI divergence with ratio confluence of 161.8% and 88.6%.

Trade setup:
1. Choose position size lot based on your preference
2. Short at 161.8% retracement of AB leg (D point completion)
3. 1st target is 38.2% retracement of AD leg
4. 2nd target is 61.8% retracement of AD leg
5. Once 1st target achieved, move stops to break even

Trade Safe and Good Luck to all !!
moneymaking
2 years ago
Unfortunately got stopped out. Not a problem, I'll keep trying. Good luck to all!!
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