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UnknownUnicorn180388
Mar 21, 2017 8:27 AM

EUR.GBP - BEARISH BAT SETUP - .8749 Short

Euro Fx/British PoundFXCM

Description

On the EUR.GBP 1hr chart we have a potential short opportunity at the D leg completion of bearish Bat setup.

The price reversal zone on this pair is between .8749 & .8759
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.

Potential targets for the Bat setup placed at the .382% and .618% retracement of the C to D move.
There is also an opportunity to look for extended targets at around .8680
Stop loss would be placed above X leg structure resistance.

Target 1 - .8714
Target 2 - .8693

Comment

Price collapsing of trendline resistance.

Comment

Trade setup now invalid.
Comments
UnknownUnicorn873213
Very good mate!!
UnknownUnicorn180388
@ANTONY-P, Thank you.
ojgrand
What do you calculate PRZ sone ?
UnknownUnicorn180388
@ojgrand, Between the X and D leg, anything past this level invalidates the setup.
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