2018May16 GBPNZD H1 Bearish Bat

There is a bearish bat for GBPNZD. Price entry at 1.96597 is guided by a close of a red candlestick which engulfed the bodies of the 4 previous ones. Stop loss is just above point X while take profit targets are set at the 38.2 and 61.8 Fibonacci retracement levels of leg AD and point A.

Trade Setup: Bearish Bat
Price Entry 1.96597
SL 1.97638 | SL pips 104.1
TP1 1.95294 | TP1 pips 130.3
TP2 1.94241 | TP2 pips 235.6
TP3 1.92535 | TP3 pips 406.2
RRR1 1.25 | RRR2 2.26 | RRR3 3.90
Status/Remarks: TP1 hit!