GBPNZD Short - Bearish Bat

Shark week continues- once again on a GBP pair. I am expecting the pound to drop across the market in the next couple of weeks!
This bearish shark is reaching completion at a key resistance zone on this pair, as are most of the GBP pairs at this time. GBP has seen some growth over the past couple of weeks, so I am expecting a sell off to balance out supply/demand. See more below.

Risk:Reward @ 1:3 as always! Stop loss at 1.90172 with a target price of 1.80631- an entry directly on our PRZ would bring a return of just over 700 pips! Hopefully price edges a little higher and we can take a good entry- I will not enter below a D point.

Bat Ratios
X:B = 0.38-0.5
A:C = 0.382-0.886
B:D = 1.618-2.618
X:D = 88.6%
评论: This trend line has been tested frequently- with one false break mid rally. I believe we should see declines once this is successfully broken.


Perfect Bat. Thanks Mate. Now wait for a perfect entry.
KyleMcQuade IvanMadrazo
@IvanMadrazo, Absolutely mate! I think price will decline once that trend line is broken, but hopefully we hit the D level before that happens!
IvanMadrazo KyleMcQuade
@KyleMcQuade, i see a bearish triangle , we should see one move up. an then search for an entry point (near D level)
IvanMadrazo KyleMcQuade
@KyleMcQuade, Or trendline breakout its possible too. Im following your idea, an this pair.
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