EURNZD - Bullish Gartley pattern at previous structure

FX:EURNZD   Euro Fx/New Zealand Dollar
A bullish bat pattern is about to complete in this consolidating price action. Completion aligns with previous structure and the 88.6% retracement of the anchor leg. A potential AB=CD pattern also would complete in the same area

Traditional targets :
38.2% for a > 3:1 RR
61.8% for a > 5:1 RR

Also take a look at my USDCAD             short idea (see link below)

Thanks for the thumbs up if you like my idea and may the pips be with you !

PS : This is the 100th idea I publish ... a little celebration ! :D
Comment: Corrected the title ... of course it is a Gartley Pattern, not a Bat ... the 88.6% level for completion in combination with not enough coffee must have confused me :)
Comment: We actually have 2 AB=CD patterns completing around our entry area, making it even stronger
Trade active
Trade closed: stop reached: Market decided otherwise ... time to look for a new opportunity.
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Good to have a SL :)
+1 Reply
I would NEVER trade without a pre-defined stop ! Keep the capital protected :)
Hi Nico. My amateurish eye got me on an NZD/JPY long. Looks like it has legs to me over the coming days. Divergences daily and potentially weekly at trend line from 2009. As I say I am very much an amateur but 70 pips up so far and looking for pullbacks to add to long. Thanks for all your ideas and good luck!
+1 Reply
Hi Capra, thanks for sharing. That pair is not in my portfolio, but wish you good luck and loads of pips !
Capra Nico.Muselle
Capra Capra
Always looking to learn from constructive criticism.
+1 Reply
Looks quite possible, don't know if the target is realistic though as we seem in a down trend. I would look for a 61.8% retracement of the last move down in this particular case, somewhere in your weekly inside bar zone
Capra Nico.Muselle
Thank you for the input, very much appreciated, Nico. Thought I was being a bit ambitious. Thinking that a potential inside bar break might move it along a bit. Good luck!
at what price is the entry? is it the red thick dotted line? thanks
+1 Reply
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