GBPNZD - Bat Pattern Opportunity
If GBPNZD goes up from here it will likely trigger my bearish bat pattern limit order (see previous idea). However, if it falls from here it will trigger my bullish bat pattern limit order.
My back testing shows that these patterns are highly profitable on this pair. I enter with a limit order at the 88.6 retracement and take TP1 at the 38.2 retracement and TP2 at the 61.8 retracement.
If price moves against me I trail my take profit levels accordingly.
My back testing shows that these patterns are highly profitable on this pair. I enter with a limit order at the 88.6 retracement and take TP1 at the 38.2 retracement and TP2 at the 61.8 retracement.
If price moves against me I trail my take profit levels accordingly.
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