OANDA:NZDUSD   New Zealand Dollar / U.S. Dollar
In this episode of Bat week we have a Bullish Bat pattern on the NZD/USD . This bat formation seems to be reversing bang on the D point, however, this trade is incorrect and has been rendered a FALSE pattern. Reason? the CD extension of the BC wave calculates to 283.20% This does not fall in line with out ratios, but is often overlooked when traders are too busy counting B, C and D points. Stay Aware! This trade may come in as it has actually hit major weekly support. The . 886 retracement just happens to fall on the weekly support. Look bellow for other bat patterns- looks like 2017 is in fact THE YEAR OF THE BAT!

Bat ratios

B: 0.382-0.5
C: 0.382-0.886
D: 1.618-2.618
XD: 0.886

Comments

Beautiful trade setup, thank you for sharing your view. I have similar idea as well on this pair.
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