2018Jun08 AUDNZD H4 Possible Bullish Bat

There is a possible bullish bat for AUDNZD. Upon D completion at 1.06929 (88.6 of XA) and confirmation of the bullish bias, I will go long. Stop loss is just below 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 Bullish Bat
Price Entry 1.06929
SL 1.06533 | SL pips 39.6
TP1 1.07955 | TP1 pips 102.6
TP2 1.08589 | TP2 pips 166.0
TP3 1.09615 | TP3 pips 268.6
RRR1 2.59 | RRR2 4.19 | RRR3 6.78

Ordem cancelada:

This setup is invalidated with the formation of a candlestick closing below 1.06929 (88.6 of XA).