USDCAD: potential Bullish Bat (4 Hour Chart)

Two trades on my radar this morning a potential bullish gartley pattern on the USDJPY & a potential bullish bat pattern shown here on the USDCAD. I wanted to share this one with you because it does a better job of following up on this week’s theme of combining patterns with the overall ebbs & flows of price action.

If you remember, yesterday’s video covered that same topic as we walked through the EURJPY combining both structure analysis and advanced patterns. (“Looking Over A Forex Trader’s Shoulders” tradeempowered.com/l...-traders-shoulders/c )

Hope you guys stayed safe out there yesterday. I cancelled all three of my positions going into the rate statement just to remove all exposure. In hindsight I would have benefited greatly from leaving them on but it was 100% the correct move for me to get out. Although trading is technically a gamble, it’s a gamble I only want to take when I feel that I have the edge.

Akil Stokes
Chief Currency Analysis at Trade Empowered
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