EURCAD completed bearish Bat pattern

Bearish on the EURCAD

Pattern Identification
Price went up to 1.5150 late last week to complete the bearish Bat pattern.
It also formed a rising wedge (reversal) pattern and broke below

RSI forming a bearish divergence

Trade execution
Took a short trade after price went below the lows at 1.4953.
Stops are still currently above the 1.50 mark at 1.5030
Potential to move to 1.4600

Handel aktiv:

Price could potentially form this bearish Shark.
If this happens, then it can retrace up to the 1.5100/20 levels

I am tightening the SL to above the arrow. Probably at 1.4992
(above the resistance TL)

Trade stängt: Stopp nått:

Price hit my protective stop loss and took me out of the trade at 1.4928.
Profit of only 15 pips.

I am looking to re-enter this trade with a target of 1.4600

Kommentera:

Price now at past support turned resistance ??
Hopefully price can be resisted by the 20MA H4 (middle of the BBand)