Ideal: AB = 0.382 * XA, BC = 0.886 * AB, CD = 2.618 * BC, CD = 0.886 * XA.
EURCAD move (Jan 23 ~ Mar 6) forms a perfect Bearish Bat Pattern.
Short Opportunity.
Looking at XAUUSD 4h chart, Fib retrace levels 0.236 & 0.382 hit in past weeks. Another great opportunity to short, using 1220 as stop loss. Great Risk & Reward!
1st Target: 1172 (4x win/loss)
2nd Target: 1161 (5x win/loss)
