CarlosPM
Short

EURUSD Bearish Bat Pattern

FX:EURUSD   Euro / U.S. Dollar
Potential Bat Pattern on the EURUSD with the finishing point at D, the 0.886 of the X to A move and a 1.618 extension of the A to B move.
The area also lies on a strong previously tested price of support and resistance .
On the lower 1 hour time frame we can also see strong RSI divergence taking place.

Stops are going one ATR above previous structure, with targets set at a 0.382 retracement of the C to D move.

The reason why stops are set here is because I want to follow a conservative approach in this trade. Price action has been setting higher highs indicating bullish bias, plus a 0.618 target would mean that price action would have to break below numerous support levels.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out