Bearish Bat: Point B: 38.2% to 50% XA Point C: 38.2% to 88.6% AB Point D: 88.6% XA Targets: TP1 38.2% AD TP2 61.8% AD
IF this makes a corrective structure I will sell the breakout.
Pair: USDCAD Direction: Sell Type: Pending Entry Price: 1.4136 Stop Loss: 1.4206 (70 pips) Profit Target 1: 1.4000 (136 pips) Profit Target 2: 1.3915 (221 pips) Risk to Reward: 1 to 3.15
Long Positions Above 1096 With Targets @ 1105 & 1110 In Extension. Comment: intraday technical indicators are mixed and call for caution. Indeed, prices failed to accelerate after the upside breakout of the 1105 area and a break below 1196 would validate a Head and Shoulders: a bearish reversal pattern.
Long Positions Above 0.992 With Targets @ 1.004 & 1.008 In Extension. Comment: the RSI lacks downward momentum.
Short Positions Below 34.35 With Targets @ 32.08 & 31 In Extension. Comment: the RSI is bearish and calls for further downside.
Long Positions Above 13.9 With Targets @ 14.09 & 14.19 In Extension Comment: the RSI calls for a new upleg
Short Positions Below 173.25 With Targets @ 169.6 & 168.9 In Extension. Comment: the RSI is badly directed.