EURCAD H1 Bearish Bat Pattern

EURCAD H1 Bearish Bat Pattern

Bearish Bat Pattern On EURCAD Hourly Chart.

• B point at 0.500XA retracement.
• C point at 0.382AB retracement.

PRZ Zone:

• 0.886XA projection at 1.4064.
• 2.618BC projection at 1.4060.
• AB=CD at 1.4049.

PRZ Zone for bearish bat pattern is define by a convergence of 0.886XA projection and 2.618BC projection at 1.4060 and complement by AB=CD at 1.4050. There are also supply zone at 1.4060-1.4080 area. I will pay very attention on the retest of these suppy and PRZ zone. This trade should give at least 3:1 risk reward ratio.
One thing to remember as B point was at 0.500XA retracement,this pattern could complete at 0.886XA (Bat Pattern) or 1.618XA (Crab Pattern).

Posted in: Bat,Bearish,EURCAD