Here we have a bearish bat on the 4 hour chat of the euro-cad. Looking at the daily chart, there has been action around the X and D points previously. Price has already dipped form the D point and looks to be making a double top! Looking through the euro across the market, all the euro pairs look ready to drop- especially those with a harmonic pattern (see euro-pound idea below). I don't tend to use indicators, but there is clear divergence across the MacD and RSI instruments
Bat ratios A: 0.382-0.5 B: 0.382-0.886 C: 1.618-2.618 xD: 0.886
交易進行
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I have not taken a short position and will hold it until the TP at 1.429, risk:reward is over 1:4!
Hey Kyle. Reading your description, I'm assuming you meant EUR/CAD not EUR/AUD?
KyleMcQuade
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@PaulSiljee, Hi Paul, your assumption is correct. I'm currently drawing up another pattern on the AUD/CAD and obviously made a slight typo- I should stick to one at a time! Thank you for pointing that out :)
PaulJonFX
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@KyleMcQuade, No problem! I have similair analysis on the EUR/CAD short. Where are you targeting TP's? Im looking at 1.4822
KyleMcQuade
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@PaulSiljee, I have a pattern on EURGBP that looks good, but I don't like to hold more than one trade with the single currency, so I am undecided on which to take. I am going to monitor this pair until it drops and gage my entry on the candlesticks if it does. I'll be looking for a TP at 1.429! Way down below you. When price hits 1.485 I will move my stop loss into profit to bulletproof the trade then let it run its course.