FxWirePro
Short

EUR/USD forms Bearish BAT pattern, good to sell on rallies

FX:EURUSD   Euro Fx/U.S. Dollar
898 6 12
Harmonic pattern formed- Bearish BAT pattern

Potential Reversal Zone ( PRZ) -1.1340

EUR/USD             has made a high of 1.13094 today morning and slightly retreated from that level. It is currently trading around 1.1280.

On the higher side any break above 1.1340 will take the pair to next target 1.1370/1.14365.

The pair’s minor support is around 1.1265 and break below will drag the pair till 1.1200/1.1525.

It is good to sell on rallies around 1.1285-90 with SL around 1.1340 for the TP of 1.1205/1.1155
AlbertoRossi
a year ago
Great chart analysis, but I think there's an error in your comment. "minor support is around 1.1265 and break below will drag the pair till 1.1200/1.1525" (??)
Is 1.115xx
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FxWirePro PRO AlbertoRossi
a year ago
s it is 1.1150
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TradZ
a year ago
It is good to sell on rallies around 1.1285-90 with SL around 1.1340 for the TP of 1.1205/1.1155
What does SL & TP stand for please?
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FxWirePro PRO TradZ
a year ago
SL- Stop loss TP- Target price
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TradZ
a year ago
Thank you my friend!
Reply
nixdem
a year ago
Hi! You write that PRZ is at 1.1340 and you also recommend to place SL there. Wouldn't it be less riskier to short around 1.1320 instead of 1.1285 and place SL at 1.1360?
Thank you.
Reply
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