Potential bat pattern identified on the 4 hour time frame on the NZD/USD.
With completion at the 0.886 retracement and 1.618 extension of the X-A move and C-D move respectively.
The completion point also falls on a major support level from the higher time frame; and we can also see some RSI divergence occurring in comparison to the latest market lows.
Target is going at the previous level structure high and 0.618 retracement of the C-D move. Stop is going below the next level of major support.
With completion at the 0.886 retracement and 1.618 extension of the X-A move and C-D move respectively.
The completion point also falls on a major support level from the higher time frame; and we can also see some RSI divergence occurring in comparison to the latest market lows.
Target is going at the previous level structure high and 0.618 retracement of the C-D move. Stop is going below the next level of major support.