When we take a look at the chart of the EURO vs. Canadian Dollar, we see that a BAT-pattern just recently has been completed. This means there will be a shorting opportunity towards the 50% retracement, measured as of the A-D leg. We have indicated this level as the TP or take-profit level.
As I am writing this post, and looked back at the chart I have noticed that the drop already took place!
Nevertheless great to share with you how well these patterns usually work.
Be sure to give us a follow because we are planning to release some more details about the different technical patterns that exist and what would be our ruleset of trading them. Please let is know if this would be of interest to you...