GBP/NZD: Bat or AB=CD?

FX:GBPNZD   British Pound/New Zealand Dollar
76 2 4
a year ago
It looks like we're in a first up correction of a possible starting downtrend so I'm biassed SHORT.

I'm looking for a good entry to get short and will probably sell a confirmed breakout of the up trendline of the current corrective up move. In case I miss it I will have a short order ready as in the chart (left 2 trades). SL above the 50% ret. of the last big move down.

If we complete the bearish bat I will short there, 2 trades as in the chart, SL above X, targets above previous structure and end of a possible AB=CD pattern.

In case we go down from here and don't complete the bat I will be looking for a long trade based on completion of a possible harmonic pattern lower down (middle 2 trades on the chart), SL below where the pattern could end, targets at previous structure.

a year ago
Trade active: Long!

Closed my shorts, now long from 2.1509 and added at 2.1802, let's see if we continue up...

1st long target @ around 2.24
2nd long target around 2.265 if we get past 2.25...
In on the AB=CD for now. Lets see
KVE PRO KevinSinghDhaliwal
a year ago
Indeed, we'll have to wait and see what ultimately develops.
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