USDCAD bearish bat pattern Short

U.S. Dollar/Canadian DollarFXCM

Description

⋅ Dec 14, 2016 9:41 AM

Hi traders,

On the USDCAD we have a potential bearish bat pattern forming.
Entry: 1.31466
Stop: 1.31593
Target: 1.31247 = R:RR 1.72

Good luck guys :)!

Comments

onewhitmore

⋅ Dec 15, 2016 8:51 AM

Hi there! Is see you target a lot of BAT patterns. What's your rule for the maximum Fibonacci level of the bottom C leg? Charley

11021992

⋅ Dec 15, 2016 11:14 AM

@onewhitmore, Hi, point C should be between 38.2% - 88.6% of the AB leg. Sometimes I use a higher point C (up to point A), but this is not ideal.