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enricomb

EUR/USD - Bearish Bat

Short
Euro / U.S. Dollar (OANDA:EURUSD)  
enricomb Updated   
OANDA:EURUSD   Euro / U.S. Dollar
EURUSD Bearish Patterns Bat pattern Harmonic Patterns
3
0
eurusd bearish batpattern pattern harmonicpatterns
Hi TradingView community!
Here we have a bearish bat pattern on EUR/USD visible on the 4 hour chart.
Conditions for a valid bat pattern are:
  • AB leg can retrace between 0.382 – 0.5 of XA leg
  • BC leg can retrace between 0.382 – 0.886 of AB leg
  • CD leg can retrace up to 0.886 of XA leg
  • CD leg can also be an extension of between 1.618 – 2.618 of AB leg
Trade management:
Take profit is set at 0.382 and 0.618 retracements of AD. At target 1, half position will be closed and the stop loss moved to breakeven.
Good luck!
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