On GBPNZD 4 hour chart, there might be a potential pattern forming. The 127.2% extension of AB leg comes in the 4 hour from 2.0165 to 2.01298 (marked by solid red lines). Note that there is no ratio confluence between of XA leg and the 127.2% extension of AB leg. But there is ratio confluence between of XA leg and 127.2% extension of AB leg. Might want to get better conformation (either on or trend reversal candle) near the , before jumping into the trade.
1. Use your trade management for the lot size
2. Long at 127.2% extension of AB leg OR wait for a solid D point completion
3. Stops go 10 to 20 pips below the X point
4. The 1st target is of AD leg. When 1st target reached, move stops to break even
5. The 2nd target is of AD leg
Trade safe, Enjoy!!