On the NZD.JPY Daily chart we have a potential long opportunity's at the D leg completion of bullish Bat setup.
The price reversal zone on this pair is between 80.977 & 80.876 The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Bat setup placed at the .382% and .618% retracement of the A to D move. There is also an opportunity to look for extended targets at 81.700 Stop loss would be placed below X leg structure support.
Target 1 - 81.280 Target 2 - 81.470
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Although price has exceeded the X leg there is still a potential long opportunity.
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5 EASY STEPS TO TRADE THE BAT SETUP
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Bullish RSI divergence has now formed.
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Price is now approaching target 1
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If you entered the market at 80.977 your target would should now be attained.
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Price is approaching 81.470 ( Target 2 )
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If you entered the market at 80.977 your target 2 should now be attained.
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If you entered the market at 80.977 your extended target should now be attained.
@tomhall, I see you respecting the craft and giving stellar information... you have a pretty good system and more importantly very beneficial because it A+ education! Cheers
Forex_Col
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Cheers Tom profit from this one. Helped my run of loses. But loses where a good learning opportunity. Learnt alot.
UnknownUnicorn180388
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@Forex_Col, Great to hear, losses are part of this game, its having the edge over time.