NZD/CHF - Bullish Bat (Back to Back)

What's going on traders, I hope you've all had an excellent week. I'm bringing you an opportunity to keep on the watch list, today we have NZD/CHF on the 4h chart with a bullish bat pattern.

It's a back to back setup as price previously formed a bearish bat pattern which almost hit SL at 1.13 of XA, price reversed and achieved TP 1 and 2.

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
XA Retracement: 0.886

We're looking at a 1.272 AB=CD, 2.24 BC and 0.886 XA in the PRZ for this particular setup.

I'll update my analysis once all ratios have been tested in the zone! Have a great weekend :)

Note

Price has now fully tested the PRZ as predicted at the beginning of June.

1.272 AB=CD, 2.24 BC projection and 0.886 XA retracement.

Support is holding well, I'm waiting for the next few candlestick formations before executing.

Note

Looking for a breakout to confirm the reversal at the PRZ.

Note

Price has broken the support trendline, we may see further downside.

Attention has now turned to AUD/NZD on the 1h.

This is still a valid trading opportunity, I'll be monitoring closely.

LewisGlasgow

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

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LewisGlasgow

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

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