GBPCAD-H4- a bullish bat after a 500 pips retracement

FX:GBPCAD   British Pound / Canadian Dollar
347 10
This pair retraced about 500 pips from last high.
Now is about to touch PRZ near the round level 1.900, a nice area for a bounce
The B point of the bat is not touching the 0.61 level, so the pattern is valid.
I expect a target a least to the 0.38 level.
Good luck
SL Hit
Yes, the news were too strong, some things are unpredictible. Unfortunately i closed my long term trade too early. I forgot to consider the long term patterns are stronger than short term. Its a lesson lo learn......
ashif030 FullTimeTrader
yes.....does not matter........last few days you have given some nice analysis.........I am waiting for your next chart analysis.......:-)
Just be carefull, although i publish many ideas here you must choose only one or two maximum at the same time, better if there are not correlated.
ashif030 FullTimeTrader
Yes, im already im. The CAD rate news move the price to the downside very quickly, but the retracement sometimes is strong too. I think the 0.38 target is more realistic now.
Got it! Sorry I must have read your post too quickly you have a good PRZ entry long setup already! Nice job looking forward. 4hr is going to be a good setup.
If you review this trend and its HWB swings you will see there is about5 or 6 of them. And they are getting weaker and weaker, the last one pierced the 61.8% retracement but continued long. I believe the big money will flip this pair soon. Not saying your trade is invalid, just being the devil advocate :)

Other then that, nice clean chart!
Hello, long term im bearish for this pair according to my W1 analisis

But short term (thats why i wrote GBPCAD-H4), i expect a bounce at this PRZ at least to the 0.38 target .
Best regards
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