PalmTreeTrading
Short

Bearish Bat Pattern setup 60 min. EUR/NZD. Great Risk/Reward !

FX:EURNZD   Euro / New Zealand Dollar
This potential Bearish Bat pattern on the EUR/NZD 60 min, has a great risk reward, as can be seen in the chart.

Look for price to climb up and touch the 88,6% retracement from the X to A leg to complete this Bat pattern . ( 1.7185 )
Stoploss should be placed above X, in this case its about 20 pips above X. (1.7290 )

Take profit 1 at 38,2% retracement from the A to D leg. ( move stops to breakeven ) 1.6932
Take profit 2 at 61,8% retracement from the A to D leg. ( 1.6778 )

Always looking for feedback on my analysis, so be sure to comment !

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Nice RR!
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