2018May18 AUDCAD H1 Bearish Bat

There is a bearish bat for AUDCAD. Price entry at 0.96771 is based on a red candlestick closing lower than the body of the red pin bar before it. Thus, I am putting a sell limit at that price. Stop loss is placed just above point X while take profit levels are set at the 38.6 and 61.8 Fibonacci retracement of leg AD and point A. I plan to manually cancel this pending order if price goes to TP1 before getting triggered.

Trade Setup: Bearish Bat
Price Entry 0.96771
SL 0.97118 | SL pips 34.7
TP1 0.96377 | TP1 pips 39.4
TP2 0.96057 | TP2 pips 71.4
TP3 0.95541 | TP3 pips 123.0
RRR1 1.14 | RRR2 2.06 | RRR3 3.54

Trade chiuso: stop raggiunto:

SL hit! (May 21)