NZDCAD: Potentially a quick bounce as it completes a Bullish Bat

The pair completed a bullish Bat pattern.
I would want to see how this pair opens at the beginning of the week.
We could potentially see a quick 50-60 pips bounce up to 0.8785/95

However this will be totally against the CAD strength we are seeing currently.
See my related USDCAD post

Commentaire:

Market opened with a gap down. No trigger to trade yet

Transaction en cours:

I am taking a risk, taking a small trade with very minimal stop loss.
Took a long trade:
- Down move seems exhausted
- Forming a falling wedge - no confirmation yet
Stops below the candle low at 0.8685
Watch out for the pattern PRZ becoming a resistance zone at 0.8740

Transaction en cours:

Currently seems resisted by the PRZ at 0.8740. Now up about 28pips, can consider to move SL to breakeven to make it a risk free trade

Trade fermée: ordre d’arrêt atteint:

Price hit my protective stops. Out of the trade with +1pip profit.

As expected, price did indeed get resisted at pattern PRZ 0.8740. was hoping it could break higher