(EP #34) Kelvin Trade Ideas - GBPCAD Bat Pattern 2020-02-02

2 feb 2020

A bearish bat pattern shows up in four hour chart. It provides a potential reversal level from 1.76750 to 1.76340. I will highly focus on this trade idea in the coming month. Because in the larger time frames, we can see the market is in a sideways trend, the PRZ is at the top of the sideways trend, it means I can mark a beautiful Stop loss level easily. Also, the potential reversal level is an important resistance level on the weekly chart, the market had tested this resistance level a few times. Those reasons make this selling opportunity looks good. I am waiting for confirmation signals to short this market.

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