I hope you're all having an excellent weekend, just a quick update I've spotted a bullish bat pattern on the 4h chart with EUR/CAD.
Excellent opportunity with over 1:3 risk to reward.
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
Final X to D: 0.886
The D point forms on a strong level of support, which provides additional confirmation of a reversal at that level.
Excellent opportunity with over 1:3 risk to reward.
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
Final X to D: 0.886
The D point forms on a strong level of support, which provides additional confirmation of a reversal at that level.
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