Long NZDCAD: Bat + Crab + S/R + MA Support

Long

New Zealand Dollar/Canadian Dollar (FX:NZDCAD)

Updated

FX:NZDCAD New Zealand Dollar/Canadian Dollar

Bat Relative Strength Index (RSI) rsi_oversold confluence glennmercer gmercerfx Moving Averages Exponential Moving Average (EMA) sma200 PRZ NZDCAD nzdcadlong

batpattern relativestrengthindex rsi_oversold confluence glennmercer gmercerfx movingaverage ema sma200 prz nzdcad nzdcadlong

NZDCAD is nearing the completion of two confluent harmonic patterns within a tight PRZ. A heavy S/R zone sits below the PRZ for added support. 200 EMA and SMA lines may add support as well. To add to bullish bias, RSI is oversold at current levels. Entry is placed at the bottom of the PRZ with target at .382CD and SL below the S/R zone.
R/R = 1.44

Confluence in the PRZ:

Bullish bat pattern completion
Bullish crab pattern completion
3BC projection
2AB=CD
200 SMA Support
200 EMA Support
RSI Oversold

Order cancelled:

Target reached before entry

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