USD.CAD Bearish Bat 4hr explained
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On the 4hr chart there is a bearish bat pattern I am looking to go short in at D leg completion. If you look back a bit you can see price has bounced off this zone several times which indicates price action may follow. Look for other signals such as an oversold RSI to get you a better entry. Stops above X leg, personally I use an ATR based stop but you can do a 1:1 risk reward or whatever fits your trading plan. Targets are at the 38.2 and 61.8 of c to d. Just to disclaim this is just advice and by no means should be taken as something that will guarantee you too make profit, always follow what is in your plan.
Nota
this pattern became invalidated.
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