EUR/CAD: Bearish BUTTERFLY and BAT PATTERNS on the go.
The Bearish Butterfly Pattern is already completed, but the price seems to hold an uptrend (take a look at the MACD Indicator!)
In case when the Butterfly does not create any effect, we can wait for the completion of the Bearish Bat Pattern.
In this case, I'm inclined to do the second thing because my Strategy does not let me trade any Butterfly Pattern.
By the way, the effects of these two pattern are supported by the Yellow Areas, which are Resistance Areas that coincide with the completion of the Patterns.
Let's wait, this is an interesting situation of non-structured chart, which is the most profitable situation for Harmonic Patterns!
Cheers, Edoardo Enrico.
In case when the Butterfly does not create any effect, we can wait for the completion of the Bearish Bat Pattern.
In this case, I'm inclined to do the second thing because my Strategy does not let me trade any Butterfly Pattern.
By the way, the effects of these two pattern are supported by the Yellow Areas, which are Resistance Areas that coincide with the completion of the Patterns.
Let's wait, this is an interesting situation of non-structured chart, which is the most profitable situation for Harmonic Patterns!
Cheers, Edoardo Enrico.