NZD/JPY - Bearish Bat

٢٧ أكتوبر ٢٠١٦

We're looking at NZD/JPY on a 4h chart, this is an excellent shorting opportunity (we are trading with a 1:2 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 looking for extra confirmation once we approach our D point, this is definitely one to watch. I hope you all have a good weekend when it comes!