EURNZD Bearish Bat Harmonic Pattern and Trade Idea Update: TP1 Reached 70 Pips

EURNZD Bearish Bat Harmonic Pattern and Trade Idea

Published: 08-28-2018

Pair / Instrument: EURNZD

Time Frame: H4

The trend in the Timeframe: BULLISH

The trend in the Daily Chart: BULLISH

Description:  EURNZD forming a Bearish Bat  Harmonic pattern on the H4 chart timeframe. A bearish retracement towards Fibonacci 23.6 and 38.2 of the CD is expected.

Trade Based On: Bearish Bat Harmonic Pattern.

Accuracy: %83

Trade:SHORT

Area Of the Entry: 1.74700 – 1.74500

Stop Loss: 1.75000

Take Profit 1: 1.74100

Take Profit 2: 1.73800

UPDATE: TP1 REACHED 70 PIPS. CLOSE 40% OF THE POSITIONS AND MOVE STOP LOSS TO ENTRY.

You can follow the trade: EURNZD BEARISH BAT PATTERN

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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money

EURNZD Bearish Bat: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility