Alex_BPTrader
Short

USDCAD - Bearish Bat

FX:USDCAD   U.S. Dollar/Canadian Dollar
+++ Don't forget to LIKE & Follow+++I came late and here's what I got from the market - a Bearish Bat Formation on 1H, with price not closing beyond X leg.
I got lucky today and I will get that extremely good Risk/Reward more than 1:3.
If you look left you will see that market is putting a series of lower lows confirming its bearish direction, so you can use the Bat Formation as an entry reason for hopping on bearish trend .
My 1st Target will be conventional 0.382% and for 2nd Target I will shoot a retest of A's leg.
If you can recall there was a Bullish Cypher Formation on USDCAD             Daily, so you can shoot for extend Target 2, and trailing your stop loss on 2nd position.

Entry @ 1.2969
Stop @ 1.3023
Initial Target 1 @ 1.2844
Initial target 2 @ 1.2656

Good Luck!

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-Alex
Professional Currency Trader & Mentor
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