On the EUR.USD 15min chart we have a potential short opportunity's at the D leg completion of bearish Bat setup.
The price reversal zone on this pair is between 1.0634 & 1.0642 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 opportunity to look for extended targets at around 1.0583 Stop loss would be placed above X leg structure resistance.
Target 1 - 1.0609 Target 2 - 1.0594
Comment
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EUR.USD - D leg completion at 1.0634 now active.
Order cancelled
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Position not executed, price now breaking the X leg resistance which invalidates idea.
@X87, That's great to hear :-)
Have a good rest of the week.
PjMiz
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Thanks for another wonderful opportunity Tom. You've been aiding me tremendously and making my 2-3 a.m. trading sessions become a success. Much gratitude.
I believe today will be a reverse- day. Look at the EURCHF, EURGBP ! They correlate. All are above SMA50, EMA100, EMA200 on H1. Don't think ERUUSD is going to fall again.
UnknownUnicorn180388
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@MarkSterensohn, It is certainly possible we will see a push higher from the EUR pairs including EUR.USD, however we wouldn't get into this position until it gives us confirmation of a reversal.
RonaldRayForeX
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what would your stop loss be in this type of position. since when it reaches a level the price goes crazy?
UnknownUnicorn180388
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@RonaldRayForeX, The stop loss is not something i can go into as it depends on many factors in your personal account.
If you click the link below it will give you a little more information.