Earlier this week I sent to the letter a bullish scenario on $AUDCAD:
Bullish Bat pattern (in Yellow), which can also be used as an aggressive C entry on a bearish BAT (green)
The Elite Zone's bullish Bat has already reached both of its targets, giving the members about 100 pips.. and now I'm looking for the continuation of the move towards the completion of the green Bat.
The price must close above the 200 SMA.
Of course there are resistance levels on the way up that may prevent the pair from rallying all the way up to the PRZ. These levels can be used as target levels to collect partial profits and adjust the stop loss to protect the position
Bullish Bat pattern (in Yellow), which can also be used as an aggressive C entry on a bearish BAT (green)
The Elite Zone's bullish Bat has already reached both of its targets, giving the members about 100 pips.. and now I'm looking for the continuation of the move towards the completion of the green Bat.
The price must close above the 200 SMA.
Of course there are resistance levels on the way up that may prevent the pair from rallying all the way up to the PRZ. These levels can be used as target levels to collect partial profits and adjust the stop loss to protect the position