Bat Pattern confirmations: - A-B must touch 0.5, but cannot touch 0.618 - B-C must touch 0.618, but cannot exceed A (FIbo A-B) or just keep an eye on that 0.236 - D completion at 0.886 (Fibo X-A) - Take profits at 0.382 and 0.618 (Fibo A-D) - Third TP would be long term back to where it all started
Ending Diagonal confirmations: - 5 clear points - 2 clear consolidations - 0 to 1 same distance as 4 to 5 - Double top at point 5
Daily analysis of EURNZD at related ideas (scroll down) Good Trading. -1h Chart
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Bat Pattern extended to an Alternate Bat Pattern been 1.13 D completion where it made a clear resistance, there's also a Cypher Pattern been formed with some confirmations: Cypher Pattern: - A to B must touch 0.382 but cannot exceed 0.618 - B to C must touch 1.272 but cannot close below 1.414 (Trend-Based Fib Extension) - C to D must touch 0.786 of X to C - First TP at 0.618 of D to C (Fibonacci) - Second TP at 0.382 of D to C (Fibonacci) - Third TP would be back to where it all started
We'll have to wait an see if price goes bearish for D completion around 0.786, at that point we can expect some type of consolidation for bullish confirmation around that area. Good Trading. -1h Chart
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Retest at top, bearish zone Good Trading. -1h Chart