Bullish Bat Breakout: EURNZD Trade Idea
Hello traders, I hope you're all doing well. Below is my analysis of the EURNZD pair and a detailed plan on how I intend to capitalize on this trading opportunity.
1. Pattern: Bullish Bat on EURNZD.
2. Completion: The pattern reaches completion at point D, which is approximately at 1.81178 on the chart.
3. PRZ Zone: The potential reversal zone for considering long positions, in anticipation of a bullish reversal, spans about 100 pips, ranging from 1.8185 to 1.80758.
4. Target Levels: Post-reversal, the targeted levels are T1 at 1.83131, T2 at 1.84192, T3 at 1.84952, and the extended target T4 at 1.86495.
5. Entry: I am looking to confirm a breakout above the 1.81849 price region upward, with solid market support for going long before entering the trade.
6. Invalidation: Should there be a break and a close below 1.80758, this would invalidate the pattern and the associated trade idea.
This idea is potentially a 4RR trade idea if it goes as planned.
I will appreciate your thoughts on this idea.
Note: This is not a financial advice.
Cheers and happy trading!
1. Pattern: Bullish Bat on EURNZD.
2. Completion: The pattern reaches completion at point D, which is approximately at 1.81178 on the chart.
3. PRZ Zone: The potential reversal zone for considering long positions, in anticipation of a bullish reversal, spans about 100 pips, ranging from 1.8185 to 1.80758.
4. Target Levels: Post-reversal, the targeted levels are T1 at 1.83131, T2 at 1.84192, T3 at 1.84952, and the extended target T4 at 1.86495.
5. Entry: I am looking to confirm a breakout above the 1.81849 price region upward, with solid market support for going long before entering the trade.
6. Invalidation: Should there be a break and a close below 1.80758, this would invalidate the pattern and the associated trade idea.
This idea is potentially a 4RR trade idea if it goes as planned.
I will appreciate your thoughts on this idea.
Note: This is not a financial advice.
Cheers and happy trading!
Comment
This idea has delivered +90pips, and still counting.
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