Trade Plan (Pending): I am selling NZD/CHF at 0.5464

Apr 5

Risk aversion resulted in traders buying the safe haven Swiss Franc (CHF) yesterday. This morning, we are seeing a mild reversal in sentiment.
NZD/CHF - forming a Bat pattern. We are currently assessed as trading within the BC leg. The one-hour chart highlights an order block between the swing high of 0.5574 and 0.5461. Bespoke resistance is located at 0.5465.
Although the immediate bias looks bullish, I look for rallies to be limited. Selling at 0.5464 (bespoke), with a stop loss of 0.5480 (above the previous swing high), targeting 0.5386 (Bat) offers a risk/reward factor 4.97R.
This trade plan expires at 1:00pm GMT (one hour and 20 minutes from now)
Selling at 0.5464
SL: 0.5480
TP1: 0.5386
R rate of 4.97R
#tradeplan #NZDCHF