UADCAD This Bat Pattern Can Give Us 80 Pips Going Long

UADCAD This Bat Pattern Can Give Us 80 Pips Going Long

1. Caution: On weekly timeframe the bollinger bands are getting squeezed. So a breakout can be expected. We have to be careful of that.
2. There is a bat pattern completion in the blue zone which also confluences with 200SMA on weekly chart.
3. So if the price falls into the blue zone, we can have a long opportunity for short duration targeting only adjusted 38.2 fib level as profit level. That is close to 80 pips but can be more or less after adjustment.

Trade active:

right on 1.30733

Comment:

Comment:

I made a mistake on this. I overlooked previous 78.6 retracement which pushed this pattern into 1.13/1.27 Fib extension.
Anyway, I am still recovering from that and took another position at 1.272 zone. I am expecting it to finish a bullish week today because of candle stick patterns.

Trade closed: target reached