I am still holding longs from earlier today based on the (blue/purple) Bat pattern. That pattern reached TP1 and TP2 is still pending. However I have set orders to exit long at the completion of the pattern and am strongly considering trying to short from there for at least TP1 and 2. From there we could look either long again or trail stops, depending on price action at the time.
If the pattern fails then there is an AB=CD pattern which wil likely complete, but as this will be after the breakout of the trendline I am not sure how wise it will be to short at that point. Watch for warning signs!
Let me know what you think, especially if you are already in USDCAD. Cheers!
If the pattern fails then there is an AB=CD pattern which wil likely complete, but as this will be after the breakout of the trendline I am not sure how wise it will be to short at that point. Watch for warning signs!
Let me know what you think, especially if you are already in USDCAD. Cheers!
It completed the AB=CD pattern and hit the first target by a pip. I did not take this trade but I just thought it was cool. I am still waiting to see if it will complete the Bat pattern.