Project 1001 Pips NZDUSD Bearish Bat Completion

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
1717 30 51
Price has comleted a bearish bat pattern. Stoploss and profit targets as shown at the chart. If price reaches the first profit target we move stoploss at the second position.
Comment: A quick update for those who follow this trade. Price almost reached the stoploss but we are now in the profit zone with a quick drop. I expect a correction at some point before price begins a new sell off. If we see price rising in sideways (corrective structure) that will be a very good sign for our setup as we will soon have another impulsive to the down.

If you have any question feel free to ask..
Trade closed: stop reached: -53 pips
I think right now it's good point for entry sell
mustard Guerrera
My take on this pair.

Hi Sir, the pair just completed AB=CD formation. Bear should be crawling in now...
An update would be much appreciated.
Im getting a little anxious to enter this trade, but don't want to enter at the wrong time. Is this trade going through that "corrective structure" you mentioned earlier?
Fxprotrader tmugleston
If you have a reason not to enter a trade, just don't enter.. many setups will come soon :) I will update if we have another sell setup with this market, and you may decide if you get involved. I hope that helps!
tmugleston Fxprotrader
I don't have a reason ;) If anything, I really like this trade. Im just new to your chats, so I wanted to make sure I was understanding your entry correctly. Im familiar with Harmonic Patterns, and have traded them before... but not a pro.
tmugleston Fxprotrader
I don't have one;) I actually like this setup. I saw that the market is trying to make a lower high, so I was getting a little excited to get in, but wasn't sure if I should wait a little longer. Im new to your chat, but familiar with harmonic patterns. I will wait for your update. Thanks!
+1 Reply
tmugleston tmugleston
Do PP's play a factor in your setups?
Fxprotrader tmugleston
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