NZDUSD Bat pattern long opportunity at last week's low Long

New Zealand Dollar/U.S. DollarFXCM

Description

⋅ Nov 24, 2016 12:42 AM

I know you must be thinking that it is not a good idea to go against the USD. I kind of agree but there is a very nice pattern setting up.

I see M30 divergence and overall the H4 is showing sellers weakness.

This maybe a slow trade as it is thanksgiving in the US but let's see how this pans out.

Trade closed: target reached

⋅ Nov 25, 2016 11:18 AM

Trade closed at 0.7044. This pair is still bearish so I am not overstaying my welcome. Expect another challenge of 0.700 next week for another long opportunity.

Comments

amilajayawi

⋅ Mar 6, 2017 5:27 AM

Hi, would you not place the SL at X level ? ^^

KarmaSenge

⋅ Nov 30, 2016 11:07 AM

Where was your stop placement on this trade?

Snehath

⋅ Nov 30, 2016 11:25 AM

@KarmaSenge, 0.7060. 35 pips below entry

KarmaSenge

⋅ Nov 30, 2016 1:29 PM

@Snehath, Is that just some sort of arbitrary number for that particular pattern, or do you always have your stop placement 35 pips below/above entry?

Snehath

⋅ Nov 30, 2016 11:56 PM

@KarmaSenge, Nope, it is based on Fibonacci and daily average.

Mberg

⋅ Nov 29, 2016 7:17 PM

Nice trade, hit T1 and T2 there :)

Snehath

⋅ Nov 29, 2016 11:49 PM

@Mathias-HarmonicTrader-Sweden, Thank you. This went way above what I thought it would go. It is almost 150 pips of profit.

SUNJUPMER

⋅ Nov 24, 2016 1:21 AM

well...what can i say now...

Snehath

⋅ Nov 29, 2016 11:48 PM

@SUNJUPMER, I didnt understand your comment?