2018Jun01 NZDUSD H4 Possible Bearish Bat

1 ביוני 2018

There is a possible bearish bat for NZDUSD. Upon D completion at 0.70298 (88.6 of XA) and confirmation of a bearish bias, I will go short. Stop loss is just above point X. The take profit targets are set at the 38.2 and 61.8 Fibonacci retracement levels of leg AD and point A. Tentative details are as follows:

Trade Setup: Possible Bearish Bat
Price Entry 0.70298
SL 0.70578 | SL pips 28.0
TP1 0.69615 | TP1 pips 68.3
TP2 0.69193 | TP2 pips 110.5
TP3 0.68510 | TP3 pips 178.8
RRR1 2.44 | RRR2 3.95 | RRR3 6.39

4 ביוני 2018

הערה

This setup is invalidated with a candle close above 88.6 of leg XA for D completion.

5 ביוני 2018

הערה

While invalidated on H4 timeframe, it is still valid on D1: