Bullish Bat Breakout: EURNZD Trade Idea
Hello traders, I hope you're all doing well. Below is my analysis of the EURNZD pair and a detailed plan on how I intend to capitalize on this trading opportunity.
1. Pattern: Bullish Bat on EURNZD.
2. Completion: The pattern reaches completion at point D, which is approximately at 1.81178 on the chart.
3. PRZ Zone: The potential reversal zone for considering long positions, in anticipation of a bullish reversal, spans about 100 pips, ranging from 1.8185 to 1.80758.
4. Target Levels: Post-reversal, the targeted levels are T1 at 1.83131, T2 at 1.84192, T3 at 1.84952, and the extended target T4 at 1.86495.
5. Entry: I am looking to confirm a breakout above the 1.81849 price region upward, with solid market support for going long before entering the trade.
6. Invalidation: Should there be a break and a close below 1.80758, this would invalidate the pattern and the associated trade idea.
This idea is potentially a 4RR trade idea if it goes as planned.
I will appreciate your thoughts on this idea.
Note: This is not a financial advice.
Cheers and happy trading!
1. Pattern: Bullish Bat on EURNZD.
2. Completion: The pattern reaches completion at point D, which is approximately at 1.81178 on the chart.
3. PRZ Zone: The potential reversal zone for considering long positions, in anticipation of a bullish reversal, spans about 100 pips, ranging from 1.8185 to 1.80758.
4. Target Levels: Post-reversal, the targeted levels are T1 at 1.83131, T2 at 1.84192, T3 at 1.84952, and the extended target T4 at 1.86495.
5. Entry: I am looking to confirm a breakout above the 1.81849 price region upward, with solid market support for going long before entering the trade.
6. Invalidation: Should there be a break and a close below 1.80758, this would invalidate the pattern and the associated trade idea.
This idea is potentially a 4RR trade idea if it goes as planned.
I will appreciate your thoughts on this idea.
Note: This is not a financial advice.
Cheers and happy trading!
Note
This idea has delivered +90pips, and still counting.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.