There are some amazing setups forming on the charts, here we have EUR/CAD on the 1h chart with a potential bearish bat pattern. Excellent opportunity with almost 1:3 risk to reward!
The measurements for a valid bat pattern are detailed below.
B: 0.382 - 0.50
C: 0.382 - 0.886
D: 1.618 - 2.618
Final X to D: 0.886
In fact price has almost formed a "perfect" bearish bat pattern.
I'm seeing strong signs of divergence, indicating an RSI BAMM setup which confirms the reversal at 1.40900.
I hope you all have a great week of trading :)
The measurements for a valid bat pattern are detailed below.
B: 0.382 - 0.50
C: 0.382 - 0.886
D: 1.618 - 2.618
Final X to D: 0.886
In fact price has almost formed a "perfect" bearish bat pattern.
I'm seeing strong signs of divergence, indicating an RSI BAMM setup which confirms the reversal at 1.40900.
I hope you all have a great week of trading :)
Comment:
Don't forget we have the BOC 3.02% rate statement at 3:00PM GMT
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