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CADJPY Bearish Bat Pattern and Short Opportunity

CADJPY Bearish Bat Pattern and Short Opportunity

Description: CADJPY completed a Bearish Alt Bat PAttern on the H4 Chart. Bearish correction is predicted.

OSMA divergence confirms the bearish reversal

Trade Setup

TRADE: Short

Trade Period:Intraday / Midterm

Estimated completion time: 2-8 H4 Candle Stick

The trend in the Timeframe: Bullish

The trend in the Daily Chart: Bullish

The accuracy of the pattern86 %

Recommended Lot Size0.10 at 10K

Entry: 83.60-83.65

Stop: Above X 84.05

Target 1: 83.40 / Reached … We take partial profit and move Stop Loss to entry.

Target 2: 83.10

Target 3: 82.88

 

Note: If the pattern does not work as predicted, we will try short entry at 1.13 Extension 84.38

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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money

AUDCAD: 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

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