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DennySantoso
Jul 11, 2014 3:39 AM

Bullish Bat Pattern on 1H USDCAD Long

U.S. Dollar/Canadian DollarFXCM

Description

Bullish Bat Pattern on 1H USDCAD, with oversold RSI, Target at 1.0658 (38.2 Fib Retracement) with Stop Loss at 1.0622 (113 Fib Extension)
Comments
mustard
I am watching a potential bullish Butterfly pattern, same XA leg as you have shown, but AB leg finishing at the July 9 low.

BC leg is the 0.618 retracement of AB and CD leg would finish at the 1.272 extension of XA, at 1.0613.

Ultimately I am looking at further downside and a possible AB=CD completion on the daily chart at around 1.0495.
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