2018Jun16 GBPNZD W1 Possible Bullish Bat

There is a possible bullish bat for GBPNZD. Upon D completion at 1.76226 (88.6 of XA) and confirmation of the bullish bias, I will go long. Stop loss is just below point X. The take profit targets are set at the 38.2 and 61.8 Fibonacci retracement levels of leg AD and point A. Tentative details are as follows:

Trade Setup: Possible Bullish Bat
Price Entry 1.76226
SL 1.73380 | SL pips 284.6
TP1 1.84690 | TP1 pips 846.4
TP2 1.89919 | TP2 pips 1369.3
TP3 1.98383 | TP3 2215.7
RRR1 2.97 | RRR2 4.81 | RRR3 7.79

Orden cancelada:

This setup is invalidated with the formation of a new swing high. (September 14)