Short EURUSD: Bat + S/R + Divergence + Overbought + Weekly Pivot

FX:EURUSD   Euro Fx/U.S. Dollar
EURUSD             is nearing the PRZ of a bearish bat in a significant area of S/R. MACD is also printing divergence in addition to RSI being overbought. A missed weekly pivot sits below price and is confluent with a larger .5 retracement. Entry is placed at the bottom of the PRZ with a SL above 1.13XA and targets at .618CD and the missed weekly pivot .

Confluence in the PRZ:
  • Bearish bat pattern completion
  • 2.5AB=CD
  • 2.618BC projection
  • S/R Zone
  • RSI Overbought
  • Bearish MACD Divergence
  • Missed weekly pivot below price
Comment: Thank you to Jhakas who pointed out the 20 week EMA! It is confluent with the PRZ and may add to the resistance in this area:
Trade active: Trade Active: Short EURUSD at 1.09665
Trade closed manually: Trade closed manually due to Bullish close above PRZ/EMA. Will look for possible re-entry later.
Trade closed manually: Wrong chart:
Trade active: Active again manually, entry at 1.09675. Same SL and TP.
Comment: Beautiful drop! Half profit taken, +90 pips! SL moved to B/E for second half.
EURUSD Short: 3 Bats Align in Tight PRZ at TL Resistance

Trade is still active, 2 more bearish bats have completed on shorter TF's.
Trade closed: target reached: Traders who held - T2 Achieved: +174 Pips