We've got another bat formation on the daily chart, this time we're looking at USD/CAD.
Price is 300 pips away from the PRZ so this is one to keep on the watch list... It has a lot of potential.
The measurements for a valid bat pattern are detailed below.
B: 0.382 - 0.50
C: 0.382 - 0.886
D: 1.618 - 2.618
XA Retracement: 0.886
We're looking at a 1.618 AB=CD, 2.0 BC and 0.886 XA in the PRZ for this particular setup.
Right now I'm paying close attention to NZD/USD which can be found in the related ideas.
Enjoy your weekend everyone!
Price is 300 pips away from the PRZ so this is one to keep on the watch list... It has a lot of potential.
The measurements for a valid bat pattern are detailed below.
B: 0.382 - 0.50
C: 0.382 - 0.886
D: 1.618 - 2.618
XA Retracement: 0.886
We're looking at a 1.618 AB=CD, 2.0 BC and 0.886 XA in the PRZ for this particular setup.
Right now I'm paying close attention to NZD/USD which can be found in the related ideas.
Enjoy your weekend everyone!
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