Hello Traders,
I have observed potential Bearish Bat Pattern on USDCAD hourly chart. Potential Reversal Zone (PRZ) is highlighted for short entry. Here, PRZ is made of 1.27AB=CD, 1.618BC and 0.886XA Fibonacci ratio confluence. This potential set up has a risk/reward ratio of 1:1.35 for Target-1 and 1:2 for Target-2.
Follow this idea for further updates.
Happy Trading!
I have observed potential Bearish Bat Pattern on USDCAD hourly chart. Potential Reversal Zone (PRZ) is highlighted for short entry. Here, PRZ is made of 1.27AB=CD, 1.618BC and 0.886XA Fibonacci ratio confluence. This potential set up has a risk/reward ratio of 1:1.35 for Target-1 and 1:2 for Target-2.
Follow this idea for further updates.
Happy Trading!