Tracking & taking the USDCAD short

<div><div>Hi Everyone,</div><div>Our student community were tracking this trade closely. USDCAD showed us a bearish Bat pattern early on 28th/29th Nov. By putting in the common momentum indicator MACD, we could see that the up move was still strong. Managed to stay patient and held off on the trade.</div><img src="http://static.wixstatic.com/media/11e264_bb876bcb34cd4eeeb62f69cc860238c8~mv2.jpg" /><div>The on the 1st Dec, the bigger Bearish Gartley pattern completed at 1.2857/67. Price went higher to touch PtX before it collapsed. </div><img src="http://static.wixstatic.com/media/11e264_f85c5c2aebed4a3b9b7266688be7ac77~mv2.jpg" /><div>Where will this be heading? Since I am already in the trade, I am hoping this will drop further next week. Looking at the weekly charts, next support level is at 1.2430, followed by 1.2150. Using the AB=CD projection, we could have a stretched target of 1.1556. However this will definitely need some time to play out.</div><div>Congrats to those who have taken the trade. Else not to worry, the market is always there, let's look forward to the next potential trade setup.</div></div>