GBP/CAD: Possible bearish bat
I am currently long hoping to catch a move up to re-test former highs. This bat could get me short again. Firstly to the possible trendline and secondly to lower support (possible range trading setting in).
Whilst I was writing this idea PA has reversed significantly from a minor resistance level and just below the .786 retracement of the bat's XA leg. It is therefor possible that this bat is going to be invalidated soon but since I started this idea I wanted to finish it anyway. At the current time the bat has not yet been invalidated so it is still possible.
SL above X, 15-20 pips for a tight SL or above 2.0350 for a wider SL (as in the chart).
2 regular targets (60% + 20%) but watching PA closely at the trendline, 1 extended target (20%) at lower support.
Whilst I was writing this idea PA has reversed significantly from a minor resistance level and just below the .786 retracement of the bat's XA leg. It is therefor possible that this bat is going to be invalidated soon but since I started this idea I wanted to finish it anyway. At the current time the bat has not yet been invalidated so it is still possible.
SL above X, 15-20 pips for a tight SL or above 2.0350 for a wider SL (as in the chart).
2 regular targets (60% + 20%) but watching PA closely at the trendline, 1 extended target (20%) at lower support.
Trade geschlossen: Ziel wurde erreicht:
TP1 and TP2 reached, closed the rest also, don(t wanna overdo it.
Great trade!
Great trade!
