2018Jun01 AUDNZD M15 Possible Bearish Bat

There is a possible bearish bat for AUDNZD. Upon D completion at 1.08385 (88.6 of XA) and confirmation of a bearish bias, I will go short. Stop loss is just above 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 Bearish Bat
Price Entry 1.08385
SL 1.08514 | SL pips 12.9
TP1 1.08150 | TP1 pips 23.5
TP2 1.08005 | TP2 pips 38.0
TP3 1.07770 | TP3 pips 61.5
RRR1 1.82 | RRR2 2.95 | RRR3 4.77

Kommentera:

The setup is now invalidated with a new swing high.