There is a bearish bat for USDCAD. Bearish bias is confirmed by a green shooting star at the potential reversal zone and the lack of a candle close higher than the upper wick of the shooting star. Price entry at 1.28926 is guided by a red candlestick closing lower than the previous one. Stop loss is placed just above point X while the take profit targets are set at the 32.8 and 61.8 Fibonacci retracement of leg AD and point A.
Trade Setup: Bearish Bat
Price Entry 1.28926
SL 1.29295 | SL pips 36.9
TP1 1.28495 | TP1 pips 43.1
TP2 1.28114 | TP2 pips 81.2
TP3 1.27496 | TP3 pips 143.0
RRR1 1.17 | RRR2 2.20 | RRR3 3.88
Status/Remarks: TP1, TP2, & TP3 hit! :)
Trade Setup: Bearish Bat
Price Entry 1.28926
SL 1.29295 | SL pips 36.9
TP1 1.28495 | TP1 pips 43.1
TP2 1.28114 | TP2 pips 81.2
TP3 1.27496 | TP3 pips 143.0
RRR1 1.17 | RRR2 2.20 | RRR3 3.88
Status/Remarks: TP1, TP2, & TP3 hit! :)