2018Apr18 USDCAD H4 Bullish Bat

There is a bullish bat, a trend continuation pattern, for USDCAD. Price entry at 1.25705 is based on a candle break and close above the resistance of the downward channel. Stop loss is just below the X point while take profit levels are based on the 38.2 and 61.8 Fibonacci retracement of AD leg and A point.

Trade Setup: Bullish Bat
Price Entry 1.25705
SL 1.24452 | SL pips 125.3
TP1 1.27555 | TP1 pips 185.0
TP2 1.28964 | TP2 pips 325.9
TP3 1.31246 | TP3 pips 554.1
RRR1 1.48 | RRR2 2.60 | RRR3 4.42
Status/Remarks: TP1 & TP2 hit!