Bearish Bat Pattern setup 60 min. EUR/NZD. Great Risk/Reward !
This potential Bearish Bat pattern on the EUR/NZD 60 min, has a great risk reward, as can be seen in the chart.
Look for price to climb up and touch the 88,6% retracement from the X to A leg to complete this Bat pattern. ( 1.7185 )
Stoploss should be placed above X, in this case its about 20 pips above X. (1.7290 )
Take profit 1 at 38,2% retracement from the A to D leg. ( move stops to breakeven ) 1.6932
Take profit 2 at 61,8% retracement from the A to D leg. ( 1.6778 )
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Look for price to climb up and touch the 88,6% retracement from the X to A leg to complete this Bat pattern. ( 1.7185 )
Stoploss should be placed above X, in this case its about 20 pips above X. (1.7290 )
Take profit 1 at 38,2% retracement from the A to D leg. ( move stops to breakeven ) 1.6932
Take profit 2 at 61,8% retracement from the A to D leg. ( 1.6778 )
Always looking for feedback on my analysis, so be sure to comment !
Follow me on twitter : twitter.com/PalmTreeTrading]PalmTreeTrading/
Follow me on Tradingview : tradingview.com/u/PalmTreeTrading/
Followme on Instagram : instagram.com/palmtreetrading/
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