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BoonHooi

CADJPY close to completing a Bullish Bat pattern

Panjang
Dolar Kanada / Yen Jepun (FX:CADJPY)  
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FX:CADJPY   Dolar Kanada / Yen Jepun
Harmonic Patterns harmonicforex CADJPY Bat rsi_oversold
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harmonicpatterns harmonicforex cadjpy batpattern rsi_oversold
CADJPY is close to completing the Bullish Bat pattern at 85.10.
This could potentially be a good trade for the following reasons :
- The Equidistance Channel, although not perfect, gives a good support
- The RSI is already moving into the oversold region
- These last 2 H4 candles shows some slowing down of the decline

However we have to watch the proce reaction at the completion @85.10
Komen:
Bullish Bat completed. I am still not in this trade as I would like to see some reaction at the PRZ and also I am already in a long position for USDJPY (which is a highly correlated pair to CADJPY).

See :
USDJPY Bullish Buttefly

Idea Berkaitan

BoonHooi
USDJPY Bullish Buttefly
Penafian

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