Urbandj

Bearish Opportunities on the EURUSD

Short
FX:EURUSD   Euro / U.S. Dollar
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5
Hello all,

Apologies for not getting this out to you all sooner however I have been tracking price action on this pair and have following the formation of a potential Bearish Bat pattern highlighted in purple on the chart. Orders have been place to take this trade so I will be hoping for price action to push a little higher first.

Though I do not trade Gartley patterns, there is also a Bearish Gartley formation within the same area highlighted in red. I am able to use this as another confirmation that the market could potentially move lower (it would seem that if you are taking the Gartley pattern as the trade, you may have already been filled).

Side note, this pair seems to be in consolidation offering a lot of pattern trading opportunities. I also took a Cypher short earlier this week which hit both targets, though I was not able to get a chart published in time.

Best of luck, and lets hope for another winning trade!
Trade active: Bat pattern filled, targets as usual at fib levels 38.2 and 61.8 respectively. Best of luck!
Trade closed: stop reached: Unfortunately, wasn't a wining trade.

A little late due to holidays however, I hope 2017 was a good year of trading for you guys, let's make 2018 one too!

Comments

What is your entry price?
Reply
Urbandj Lcolucci
@Lcolucci, I do not trade on this platform which is why I do not place entry levels however based on this chart it would be at 1.19327 based on my rules. SL would be based on what your rules state for where you place it, personally I use a 1.113 fib extension rule
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