This is a follow-up from my last idea. Here is an opportunity to get into the trade on the hourly and reap the profit targets of the daily.
I know this is a little late, however there is still room for profit. If you look on the hourly, you'll notice a bearish gartley formation approaching the D leg to get you in on this trade if you aren't already in on it.
Although the technicals all indicate a bullish retracement off of the support zone, fundamentals may play a different story with the USD/CAD pair. If price action breaks support zone, it's very likely that the bearish move will be significant and I have set my entries/exits as shown. If it does break through support, I'll be watching price action for clearer...
If two 1 hr bars or one 4 hours breaks above resistance and closes on or below I will enter the trade in the bearish direction to profit targets.
Waiting for it to touch back down to the D leg for better confirmation
There's a solid trendline dating back to November of 2015 keeping the EUR/GBP bullish- it's broken it before and if it does again, expect a decent size break-out. Regardless, if it breaks the wedge in the bearish direction, there should be downward momentum for around 200 pips profit. Good luck, mates!
If the NZD sees healthy news or if the news doesn't harm it's bearish traction, I'll be looking to go short considering the trend, and the overbought signals on the Daily Stochastic and RSI indicators, and a solid closing bearish candle to indicate it's downward momentum.
If the bat completes and continues to fall, looks like we have a nice bullish gartley pattern.
A nice bearish Bat Pattern setup on the Daily and 4 Hour chart