NZDCAD - Using Higher Timeframe Analysis To Pick Bigger TargetsIn this video we take a look art a potential bullish bat pattern on the NZDCAD. However, what makes this potential bat pattern different than most is the fact that it aligns with a potential bearish trend continuation setup on the higher timeframe as well.
What this allows for is 3 different ways to take this trade.
1) As a normal bat pattern with normal targets
2) Using the bat pattern as simply an aggressive entry reason for the bigger continuation trade
3) Taking partial targets off at the bat pattern target 1 level & shifting your secondary targets to the trend continuation target level.
The combinations are honestly endless, but this provides an excellent example of why higher timeframe analysis can be so important.
Akil
