NZD/JPY Bearish Bat formed on daily chart
Good evening everyone I hope your all having a good week so far, here we have the NZD/JPY on the daily chart having formed a Bearish Bat, this is an ideal selling opportunity.
This has a risk reward ratio of over 1:2
Added confluence and RSI has strengthened my position here giving me more confidence the New Zealand Dollar will drop against the Japanese Yen.
The ratios for a valid bat pattern are:
B: 0.382 - 0.50
C: 0.382 - 0.886
D: 1.618 - 2.618
Final X to D: 0.886
I hope you all have a good week and weekend ahead, if you have any questions feel free to connect with me on trading view, or drop a comment below,
Thank you
This has a risk reward ratio of over 1:2
Added confluence and RSI has strengthened my position here giving me more confidence the New Zealand Dollar will drop against the Japanese Yen.
The ratios for a valid bat pattern are:
B: 0.382 - 0.50
C: 0.382 - 0.886
D: 1.618 - 2.618
Final X to D: 0.886
I hope you all have a good week and weekend ahead, if you have any questions feel free to connect with me on trading view, or drop a comment below,
Thank you
Penafian
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