cdschultheis15

USD/ZAR - Bearish Bat + Trendline Breakout

Short
OANDA:USDZAR   U.S. Dollar / South African Rand
Here, we are looking at the USD/ZAR on the 4h chart.

Price has broken out of the previous down trend. As price makes its way up, it has the potential to complete a bearish bat pattern at the 13.6000 level.

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
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.