There is a possible bullish bat for EURCAD. Upon D completion at 1.52219 (88.6 of XA) and confirmation of the bullish bias, I will go long. Stop loss is just below point X. The take profit targets are set at the 38.2 and 61.8 Fibonacci retracement levels of leg AD and point A. Tentative details are as follows:
Trade Setup: Possible Bullish Bat
Price Entry 1.52219
SL 1.51996 | SL pips 22.3
TP1 1.52731 | TP1 pips 51.2
TP2 1.53048 | TP2 pips 82.9
TP3 1.53560 | TP3 pips 134.1
RRR1 2.30 | RRR2 3.72 | RRR3 6.01
Trade Setup: Possible Bullish Bat
Price Entry 1.52219
SL 1.51996 | SL pips 22.3
TP1 1.52731 | TP1 pips 51.2
TP2 1.53048 | TP2 pips 82.9
TP3 1.53560 | TP3 pips 134.1
RRR1 2.30 | RRR2 3.72 | RRR3 6.01
Order cancelled:
This setup is invalidated with a candlestick closing below 1.52219 (88.6 of XA).