NZD/USD - Bullish Bat + Descending Channel
Hello, everyone! Happy New Year!!!
Coming into the new year is looking good! So much potential in the markets!!!
Today, we have the NZD/USD on the 1D chart. Here in the months to come, it looks like we have a bullish bat pattern forming.
LOTS of confirmation on this analysis!
The pattern is hitting critical points on trend lines within the ascending and descending channel.
For all you fundamentals out there, the U.S. will be raising rates 3 more times this year. That means price will be going down, which explains the descending channel
The measurements for a valid bat pattern are detailed below.
B: 0.382 - 0.50
C: 0.382 - 0.886
D: 1.618 - 2.618
Final X to D: 0.886
Coming into the new year is looking good! So much potential in the markets!!!
Today, we have the NZD/USD on the 1D chart. Here in the months to come, it looks like we have a bullish bat pattern forming.
LOTS of confirmation on this analysis!
The pattern is hitting critical points on trend lines within the ascending and descending channel.
For all you fundamentals out there, the U.S. will be raising rates 3 more times this year. That means price will be going down, which explains the descending channel
The measurements for a valid bat pattern are detailed below.
B: 0.382 - 0.50
C: 0.382 - 0.886
D: 1.618 - 2.618
Final X to D: 0.886
