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LewisGlasgow
Apr 16, 2017 1:08 PM

EUR/CAD - Bullish Bat Long

FX:EURCAD240
Euro Fx/Canadian DollarFXCM

Description

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I hope you're all having an excellent weekend, just a quick update I've spotted a bullish bat pattern on the 4h chart with EUR/CAD.

Excellent opportunity with over 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

The D point forms on a strong level of support, which provides additional confirmation of a reversal at that level.
lewisglasgowlewglasgowsixfigurecapitalsix000Bullish Bat
Comments
AzeemSindhu
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tell me good buy and sell area
LewisGlasgow
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@AzeemSindhu, it is shown on the chart, buy at the D point.
Jayz
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It's look like CADCHF that I open long position at B point CADCHF - Bearish Bat
LewisGlasgow
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@Jayz, the same as this one?

Jayz
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@LewisGlasgow, yes bro, and I open long at support line at B point.

In fundamental Analysis, USD will weak and oil will up. If oil up then it good for CAD.
LewisGlasgow
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@Jayz, I agree, I'm expecting a dollar weakness too.
Jayz
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@LewisGlasgow, in my Opinion

LewisGlasgow
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@Jayz, yes I like that idea! I'm waiting for the full pattern to complete but your expectations for oil tie in well with your analysis.
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