GBPNZD: Long at BAMM Line, Short at BAT

A series of two trades is setting up on GBPNZD. The first is a long position after the close above the BAMM line (body) toward the bat PRZ and S/R Zone. The second, should price reach the bat PRZ, is a bearish bat opportunity. This iwll be an excellent opportunity to short because the resistance structure is strong in this area. Entry is placed at .886XA with SL at 1.13XA and target at .382CD.

Confluence in the bat PRZ:

• .886XA
  
• 1.5AB=CD
  
• 2BC Projection
  

Trade active:

Trade 1 - Long - Active

Trade closed: stop reached:

Long position: -95 Pips

Order cancelled:

Short Trade Idea cancelled as new lows have been established