moneymaking

NZDUSD: Potential Bat Pattern on 4 Hour chart

Long
FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Potential Bullish Bat Pattern forming on 4 hour chart. Wait for the D point completion at 161.8% level. We might also look for the market to be oversold near the D point completion. Stops can go 10 to 20 pips below the X point.

Trade setup:
1. Choose position size lot based on your preference
2. Long at 161.8% extension of AB leg (D point completion)
3. 1st target is 38.2% retracement of AD leg
4. 2nd target is 61.8% retracement of AD leg
5. Once 1st target achieved, move stops to break even

Trade Safe and Good Luck to all !!

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