USDCAD: Bullish Harmonic Bat Pattern Signals Possible Buy Entry
Hello traders,
USDCAD is presenting a potential bullish opportunity as we have a strong demand zone where the market previously rallied by more than 400 pips. Additionally, we have a bullish harmonic Bat pattern that completes near the zone, and we are also at the FIB golden level of 61.8.
To trade this setup, we can look for a buy entry at the completion of the harmonic pattern, targeting the next resistance level. A stop loss could be placed below the demand zone to manage risk.
The other way we can approach this idea is to wait for a further push to the downside and then look for confirmation before entering a buy trade
Remember to always have a solid trading plan in place and manage your risk properly. Good luck and happy trading! Don't forget to follow and like this post and leave a comment with your thoughts. 💰📈👍
USDCAD is presenting a potential bullish opportunity as we have a strong demand zone where the market previously rallied by more than 400 pips. Additionally, we have a bullish harmonic Bat pattern that completes near the zone, and we are also at the FIB golden level of 61.8.
To trade this setup, we can look for a buy entry at the completion of the harmonic pattern, targeting the next resistance level. A stop loss could be placed below the demand zone to manage risk.
The other way we can approach this idea is to wait for a further push to the downside and then look for confirmation before entering a buy trade
Remember to always have a solid trading plan in place and manage your risk properly. Good luck and happy trading! Don't forget to follow and like this post and leave a comment with your thoughts. 💰📈👍
