A distinct bearish Bat pattern has formed which calls for an end to this bullish correction. Breakdown of 0.9488 support will usher in the new ear of bearish power.
Good luck,
Ali Sharif Azadeh, CFTe
Now we have more evidence to support this expectation, but the price is too high, the 1060 is an acceptable price, ready to play.
Suggestion: the above are for reference only, please careful consideration before use, welcome to discuss
FX:AUDCAD
I believe in a trend continuation, IF the price break resistance and ignore the Small Cypher pattern, i will keep search for LONG opportunities;
Small cypher not yet completed (21 pips missing), stuck with previous support, now resistance, and the pressure it is almost tactile, furthermore, price action is printing lower highs and higher highs (check...
IF=THEN lifestyle with FX:AUDCAD
Below Monthly Support (MN1), expectations of a downward continuation move, eventualy forging a point C for a Bearish Shark around 0.87520, point C for a Bearish Cypher around 0.85654 or even further and completing a Bullish Bat pattern around 0.76322 giving us simultaneously a "new" Low since Feb09 and an eventual strong Buy...
... eventual Bearish Bat... FX:AUDCAD
Short @D
Point B:
38.2% to 50% XA
Point C:
38.2% to 88.6% AB
Point D:
88.6% XA
Targets:
TP1 38.2% AD
TP2 61.8% AD
Ratios:
Safe Trades;
Here we got the audcad that have been in a consolidation state for a while, but here on the 60min we got a mini uptrend that broke and we broke below closed below previous structure low, so its a potential new downtrend we will try to catch with this pattern on a retracement! Look out for the RSI to come into the over sold area.
Comments good and bad are very...
HERE IS A LITTLE AMBIGUITY, TWO BEAUTIFUL SET UP, BUT I'M NOT SURE WHICH, BUT TO BE ON THE SAFE SIDE, I'D TAKE THE STRUCTURE TRADE ABOVE . AGGRESSIVE AND GO FOR THE PATTERN. WHAT DO YOU THINK?
I SEE A SCENARIO WHERE BOTH CAN OCCUR, WITH A 38.2 RETRACE OF THE PATTERN AND HEAD TOWARDS THE WALL AT THE TOP.
WHATS YOUR OPINION?
