orvilleawright
Long

EURUSD 1H BULL BAT at Structure Low 1.114xx with Stop and Target

FX:EURUSD   Euro / U.S. Dollar
1. If price reaches the completion of this BAT pattern I will wait for a reaction ( Engulfing bullish candle, Tweezer bottom , etc) within the PRZ. This entry zone has acted as support in the past. It is also at a 1.272 fib inversion.
2. Stop is placed at the 1.13 fib extension of the XA leg.
3. Target 1 is below the 38.2 retracement of the larger down move and slightly below the A point of the BAT pattern .
4. Target 2 is slightly above the 50% retracement of the larger move down. This area had acted as resistance in the past.
5. Both stops are moved to breakeven when target 1 is hit. Target 2 stops are trailed using the DNC indicator once moved to breakeven.
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