GBPCAD: Bound to go down
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Hi traders,
On the GBPCAD I'm looking to enter short at the completion of this potential bearish bat pattern. This pattern will complete with an AB=CD pattern. We can see that price has taken 119 hours to gain 1.59%, while it took 47 hours to drop 2.04%. Meaning that it's likely to see a drop.
At this point in time, I don't really see any other good entry, so I'm just waiting for this bat pattern to complete. I wouldn't be surprised if we see a drop sooner.
Entry: 1.68548
Target 1: 1.67300
Target 2: 1.66325
Good luck traders!
On the GBPCAD I'm looking to enter short at the completion of this potential bearish bat pattern. This pattern will complete with an AB=CD pattern. We can see that price has taken 119 hours to gain 1.59%, while it took 47 hours to drop 2.04%. Meaning that it's likely to see a drop.
At this point in time, I don't really see any other good entry, so I'm just waiting for this bat pattern to complete. I wouldn't be surprised if we see a drop sooner.
Entry: 1.68548
Target 1: 1.67300
Target 2: 1.66325
Good luck traders!
Nota
Went down as expected :P
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