CADJPY is close to completing the Bullish Bat pattern at 85.10. This could potentially be a good trade for the following reasons : - The Equidistance Channel, although not perfect, gives a good support - The RSI is already moving into the oversold region - These last 2 H4 candles shows some slowing down of the decline
However we have to watch the proce reaction at the completion @85.10
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Bullish Bat completed. I am still not in this trade as I would like to see some reaction at the PRZ and also I am already in a long position for USDJPY (which is a highly correlated pair to CADJPY).