EURCAD Short

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

تم فتح الصفقة:

I have not taken a short position and will hold it until the TP at 1.429, risk:reward is over 1:4!