Oztrade
Long

ADVANCED PATTERN - POTENTIAL BULLISH BAT - LONG GBPCAD - 60M

FX:GBPCAD   British Pound/Canadian Dollar
Hi All, I wanted to share this potential long position on a Bullish Bat Pattern

If you look left this level has been respected in the past hitting it 4 times only to get rejected each time.

This Bat Pattern provides a good opportunity as the 88.6% completion is right at this level.

I will closely watch this trade to see how price reacts at this level, keeping an eye on my filters - watching the RSI level on HTF             LTF and TTF

You can also wait for another sign of reversal - watch price action if we a close below the 3 marked positions hopefully we will see the signal for us to enter this trade.

Maybe you want more confirmation in LTF to look for an Oversold market with a slight retrace and then if we form a D/B with RSI divergence then that is another signal for you providing a little more confirmation to enter this trade.

Below x in previous support the is a support level very close to our Stop level - if we break X then we could only hope price respects it and bounces back for us.

You may want to take the aggressive entry on this - most times you will miss the trade if not.

Also follow your rules and trade your plan.

Good luck and happy trading.
Oztrade
a year ago
Nice one here - Hit Targets 1 and 2 very easy with that news we got - Banked +148 To all that got involved well done and hope this post helped you see the pattern and check your rules to see if this met your trade plan and rules. Happy Trading
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Nice trade.
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Oztrade IvanLabrie
a year ago
Thanks Ivan - its great to see where our trades go to our targets fast - rather than 3 days later. I guess the most important thing is to either break even or win and to protect our capital.
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moneymaking
a year ago
You on hot streak mate :)
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