DacresFx
Short

*Update* -USDCAD- SHORT

FX:USDCAD   U.S. Dollar / Canadian Dollar
289 4 3
Reason 1: Channel high reached
Reason 2: Over bought bullish over bought imo             ,
Reason 3: Butterfly pattern completion
Reason 4: ABCD Completion
Reason 5: Fib level lines up with Channel high
so where do you think the target is going to be??
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Thanks for your analysis !!

However this pattern is not a Bat since the CD leg completed above X. That would be a Butterfly ! :)
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DacresFx DuKe_QC
Thanks :D i'm not good with these patterns i'm more or less
a structure and price action kind of person but thanks for than duly noted
Reply
DuKe_QC DacresFx
No problem !! If you ever need more details about patterns there is a website that I use. Here is the link for the butterfly pattern : http://www.harmonictrader.com/price_patternsbfly.htm
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