KVE

NZD/USD: Bearish bat or bullish AB=CD?

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
186 0 6
a year ago
One of 2 patterns could be forming and both could confirm a possible downtrend setting in.

1. A bearish bat could complete at a point where PA test the broken trendline, after which the downtrend could continue
2. The downtrend could continue right away and a bullish AB=CD could be formed at or below a lower trendline, signalling a possible pullback or re-test of broken trendline. A significant pullback at the lower trendline could coincide with a possible alt 1.27AB=CD also, this would invalidate the AB=CD on which the trade on the chart is based.

Trades for both scenario's on chart (no trade if the alt bat scenario is confirmed (preferably a pullback to 50% of CD) ).

Whenever 1 of the 2 patterns completes the other one will be invalidated.

Targets could be adjusted depending on where PA potentially reverses.
a year ago
Comment: Entry on the bat missed by 1.5 pips...!! Damn my luck..., didn't account for the spread...
Hopefully I'll get another chance to enter before the first target is hit, adjusted my entry by 3 pips... ;-)
a year ago
Trade closed: target reached: Targets reached but didn't ger the chance to enter, short 1.5 pips...
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