Daily and hourly 618 retracements lining up with Bat and Cypher completion on the 15. Take the Cypher for a conservative entry, expect a retest of previous highs.
If the Cypher ends up completing at 0.888, it will give us a nice opportunity for a short entry. It doesn't offer the best risk / reward ratio, if you account for the spread on NZD/CAD. But the confluence with the 0.5 and 0.382 retracements tells us, that it should be a good trade.
Bat pattern completing almost at the even handled 0.89 and structure looking left. We also have a minor 0.382 retracement from the second highest top on the left and 1.414 inversion of the BC leg coming in at the roughly the same level.
After the 2618 to the left of the chart has already produced a winning trade opportunity, this gartley pattern happens to complete exactly at the 618 retracement based off the second top.
If this Bat pattern manages to complete at 0.886, we will be looking at a better entry for the 2618 trade. First and second targets at 0.382 and 0.618 respectively.
Two potential cyphers, gartley and a bat suggest downward movement, if they complete.
But before that, if the market manages to push down to the bottom of the channel, I'd expect to get a bullish opportunity and then wait for the bat completion at the top of the channel to get bearish. On our way up we may get multiple opportunities to get short.
