EUR/NZD - Bullish Bat Long

Euro Fx/New Zealand DollarFXCM

Description

⋅ Jan 18, 2017 2:26 PM

There are some amazing setups forming on the charts, here we have EUR/NZD on the 1h chart with a potential bullish bat pattern. Excellent opportunity with over 1:3 risk to reward!

The measurements for a valid bat pattern are detailed below.
B: 0.382 - 0.50
C: 0.382 - 0.886
D: 1.618 - 2.618
Final X to D: 0.886

I'll be looking for extra confirmation once we approach the D point.

Comments

abail

⋅ Feb 28, 2017 6:12 PM

any update on this one?

LewisGlasgow

⋅ Feb 28, 2017 6:13 PM

@abail, this is not a position I am looking at just now

pabloescoto

⋅ Jan 18, 2017 2:44 PM

Thank you, looking forward to hear your comments later.

LewisGlasgow

⋅ Jan 18, 2017 2:47 PM

@pabloescoto, you're welcome. I'll be sure to keep everyone posted :)

Red

⋅ Jan 18, 2017 4:20 PM

Good one!
what do you mean with extra confirmation?

LewisGlasgow

⋅ Jan 18, 2017 4:26 PM

@Red, thank you! Price action around the D point that indicates a move higher. I check other timeframes for validation too!