TomHall
Short

USD/CAD - Bearish Bat Pattern Monthly Outlook

FX:USDCAD   U.S. Dollar/Canadian Dollar
On the USD/CAD             Monthly chart we have a potential short opportunity at the D leg completion of a Bat Pattern .

The D leg completion on this pair is at 1.5323 which has confluence of multiple other Fibonacci levels.
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.

Potential targets for the Bat Pattern placed at the .382% and .618% retracement of the C to D move.
Stop loss would be placed above X leg structure resistance .

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How To Trade The Bat Pattern.
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This is really a long term outlook, may be for shortterm trades we look further more to upwards as that go with your possibility of completing the Bat Pattern on the Monthly chart ?
+1 Reply
TomHall TOP EL_KHIBRATTOR
It certainly is a long term outlook.
There are plenty of trades I am currently watching on the 1h, 4h and Daily chart however this is something to watch in the coming months.
+1 Reply
Hope to see your views on the smaller timeframes as well :)

Thanks for sharing .
+1 Reply
TomHall TOP EL_KHIBRATTOR
I will be posting a couple into early next week.

No problem at all :-)
+1 Reply
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