Long

EURNZD Bullish 2618 to Bearish Bat + Gartley + Butterfly

Updated

EURNZD had formed a double bottom and retraced 61.8% to give us an entry for a bullish 2618 trade. At the 127% extension where profit is commonly taken, 3 bearish harmonic patterns may present themselves within a tight PRZ. On the higher TF, a larger bullish shark is emerging.

Trade 1: Bullish 2618:

Entry at the 61.8% retracement level
SL is placed below the double bottom
Target is taken at the 127.2% extension

Trade 2: Bearish Bat + Butterfly + Gartley

Entry in the center of the PRZ
TP at .618CD (or move to B/E at this level and let the trade run toward the bullish shark completion)
SL outside of 113% XA

Thanks for your continued support and don't forget to click the thumbs up button and follow for future updates and more trade ideas!

Trade active

Trade closed manually

Bullish 2618 trade closed manually due to bearish engulfing candle formation produced on 1H chart.
+29 pips

Note

Note: Trade #2 Sell limit still valid if price should reach entry

Order cancelled

Second order cancelled. +29 pips total

glennmercer

Also on:

Related publications

Short EURNZD: Head and Shoulders Entry on Bearish Bat

by glennmercer

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.