EURCAD has been on a recent uptrend. It has completed a bearish bat around a trendline resistance. So far, price has been successfully rejected at the potential reversal zone. Also, an RSI bearish divergence is seen at H1 timeframe. Upon confirmation of the bearish bias, I will go short. Stop loss is just above the X point while the take profit target is set at the D completion of a bullish cypher. More conservative take profit targets are shown as well. Trade details are as follows:
Trade Setup: Bearish Bat
Price Entry 1.50262
SL 1.50543 | SL pips 28.1
TP3 1.48892 | TP3 pips 137.0
RRR3 4.88
Trade Setup: Bearish Bat
Price Entry 1.50262
SL 1.50543 | SL pips 28.1
TP3 1.48892 | TP3 pips 137.0
RRR3 4.88