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CarlosPM
Oct 25, 2017 9:08 AM

Bullish Bat Pattern NZD/USD Long

New Zealand Dollar/U.S. DollarFXCM

Description

Potential bat pattern identified on the 4 hour time frame on the NZD/USD.
With completion at the 0.886 retracement and 1.618 extension of the X-A move and C-D move respectively.

The completion point also falls on a major support level from the higher time frame; and we can also see some RSI divergence occurring in comparison to the latest market lows.

Target is going at the previous level structure high and 0.618 retracement of the C-D move. Stop is going below the next level of major support.
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