Short

NZD/JPY - Bearish Bat

Updated

Hello traders, here we have NZD/JPY on the daily chart with a potential bearish bat pattern.

All-round excellent opportunity with over 1:3 risk to reward.

The measurements for a valid bat pattern are detailed below.
B: 0.382 - 0.50
C: 0.382 - 0.886
D: 1.618 - 2.618
Final X to D: 0.886

I'll be looking for additional confirmation before taking the trade!

Note

This setup is on my watch list for the week ahead.

Currently 60 pips off the PRZ.

Trade active

Signal sent out in the Six Figure Capital Telegram channel.

Note

Expecting momentum to continue.

Note

Price has now moved back into profit following a test of resistance at X.

I'm expecting a move to 80.800 before price stalls at support.

Note

80.800 has been breached, move your stop loss into profit.

Trade closed manually

To all those not in the Six Figure Capital telegram channel I closed my NZD/JPY position earlier today (30 pips off TP).

Well done to those who held :)

LewisGlasgow

📈 Master the Art and Science of Trading: sixfigurecapital.com

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