Stop loss based on the nice piece of structure before the start of the pattern. EMA and MA also signify a further move to the downside which will hopefully form the bat pattern. Very good risk/reward on this one.
The EURUSD has multiple times bounced from the purple box but has recently broken through it and is now coming back up. We look to short it when it comes back into the 1.108s again as we then get what i call the "broken fang" setup meaning that price prints lower lows but equal highs. Our stops go above the resistance box and I'm hoping to catch a 1:3 on this...
SWEDISH KRONA (SEK) is very weak fundamentally and there's absolutely no reason to be selling this currency which is the reason why we've got this nice on going uptrend against the U.S dollar. Price pulled back to previous resistance turned support. It bounced off this level forming a morning star which is also in confluence with the 50 SMA and a physiological...