AUDCAD Potential Bearish Bat Pattern Formation
Pair / Instrument:AUDCAD
Time Frame: H4
The trend in the Timeframe: BULLISH
The trend in the Daily Chart: BEARISH
Description: A potential bearish Bat Pattern formation on H4 Chart. If the pair closes above Fib 61.8% of XA Leg 0.94300, bullish move will be triggered and the pair is likely to complete the pattern at D. A bearish correction may take place at D.
Trade Based On: Bearish Bat Pattern
Recommended Lot Size:
AREA OF THE ENTRY: 0.94700 – 0.94950
STOP LOSS : Above X 0.95200 – 0.95400
TARGET 1: TBA according to completion level.
TARGET 2: TBA according to completion level.
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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money
AUDCAD Bearish Bat Pattern : Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.