2018Mar27 EURUSD H4 Bearish Bat

There is a bearish bat seen for EURUSD H4. Price entry is based on a bearish engulfing candlestick (close of 1.24262) which completely consumed the previous 3 candlesticks. The stop loss is placed just above the D point while profit taking is targeted at the 38.2 and 61.8 Fibonacci retracement levels of the AD leg and A point, respectively.

Trade setup: Bearish Bat
Price Entry 1.24262
SL 1.24813 | SL pips 55.1
TP1 1.23536 | TP1 pips 72.6
TP2 1.22779 | TP2 pips 148.3
TP3 1.21552 | TP3 pips 271.0
RRR1 1.32 | RRR2 2.69 | RRR3 4.92
Status/Remarks: TP1, TP2, & TP3 hit! :)