Art_of_Trading
Short

USDCAD: Valid Bat for Monday

FX:USDCAD   U.S. Dollar/Canadian Dollar
On FX:USDCAD             , the market is not trending; it moves in sideways, which give some good opportunities to harmonic pattern traders. The price are close to structure high, resistance level at 1.3369. That level rejected the market few times and it is more likely that it will act as resistance again. Moreover, there is a valid bat pattern , which finished its D leg exactly at 88% fibo retracement. The sellers are going to step in and fall the price down. Thus, this set-up gives a high probability set-up to go short.
T1 - 38.2%
T2 - 61.8%
Note: Wait the market to be opened on Monday.
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