lukeboland

NZDUSD: Bearish Bat (Great Risk-to-Reward)

Short
FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Hi Traders,

There is a bearish bat formation completing at 0.72030. Current market price is still fairly far from our entry, and if price falls below the point marked 'A', this pattern and trading opportunity will be invalid.

Entry: 0.72030
Stop: 0.72320
Target 1: 0.71620
Target 2: 0.71330

As with all Bat pattern setups, this trade has an excellent risk to reward ratio of approximately 1.5:1 to target 1 and 2:1 to target 2.

If you found this idea useful, leave a like or comment, I appreciate your feedback.

Luke
Trade active
Trade closed: stop reached