On the EUR.USD 1hr chart we have a potential short opportunity at the D leg completion of bearish Bat setup.
The price reversal zone on this pair is between 1.0678 & 1.0688
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 an opportunity to look for extended targets at around 1.0580
Stop loss would be placed above X leg structure resistance.
Target 1 - 1.0636
Target 2 - 1.0610
The price reversal zone on this pair is between 1.0678 & 1.0688
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 an opportunity to look for extended targets at around 1.0580
Stop loss would be placed above X leg structure resistance.
Target 1 - 1.0636
Target 2 - 1.0610
Comment:
We are likely to find support and see consolidation in the coming hours.
Comment:
Target 2 attained if you entered at the D leg 1.0678
Comment:
Consolidation period now expected.
Comment:
Bullish RSI divergence has now formed.
Comment:
Daily chart setup.
Comment:
Daily outlook into next week.
I personally didn't take this position.