(EP #18) Kelvin Trade Ideas - EURCAD Bat Pattern 2020-01-08

8 Jan 2020

A bullish bat pattern within buy zone (red box) in four hour chart. I will use potential reversal zone bottom 1.44820 as my buy order entry price. This market is in a sideways trend in the daily chart , so I can mark a beautiful stop loss level easily in this buying opportunity. The market gives me RSI divergence as a confirmation signal, however, the recent close price in low point is lower than the double bottom pattern's close price at X point (green line). It is not a good sign for me to mark this low point is an inflection point. I will wait for a new double bottom pattern around 1.4465 as a confirmation signal, then I will long this market.

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