EUR/CAD - Bearish Bat (RSI BAMM)

There are some amazing setups forming on the charts, here we have EUR/CAD on the 1h chart with a potential bearish bat pattern. Excellent opportunity with almost 1:3 risk to reward!

The measurements for a valid bat pattern are detailed below.
B: 0.382 - 0.50
C: 0.382 - 0.886
D: 1.618 - 2.618
Final X to D: 0.886

In fact price has almost formed a "perfect" bearish bat pattern.

I'm seeing strong signs of divergence, indicating an RSI BAMM setup which confirms the reversal at 1.40900.

I hope you all have a great week of trading :)

Commento:

Don't forget we have the BOC 3.02% rate statement at 3:00PM GMT