Long NZDCAD: Bat + Crab + S/R + MA Support
Updated
NZDCAD is nearing the completion of two confluent harmonic patterns within a tight PRZ. A heavy S/R zone sits below the PRZ for added support. 200 EMA and SMA lines may add support as well. To add to bullish bias, RSI is oversold at current levels. Entry is placed at the bottom of the PRZ with target at .382CD and SL below the S/R zone.
R/R = 1.44
Confluence in the PRZ:
R/R = 1.44
Confluence in the PRZ:
- Bullish bat pattern completion
- Bullish crab pattern completion
- 3BC projection
- 2AB=CD
- 200 SMA Support
- 200 EMA Support
- RSI Oversold
Order cancelled
Target reached before entry
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