GBP/NZD - Bearish Bat

Hello traders, here we have another bat pattern on the 4h timeframe with GBP/NZD.

Excellent opportunity with almost 1:4 risk to reward.

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
Final X to D: 0.886

I'll be expecting price to stall out once it reaches the the D point, keep this setup on your watch list.

If you want more trading inspiration be sure to connect with me below :)

Commento:

Price is approaching 1.78700, keep an eye on this pair for a reversal this week.