EURUSD is nearing the PRZ of a bearish bat in a significant area of S/R. MACD is also printing divergence in addition to RSI being overbought. A missed weekly pivot sits below price and is confluent with a larger .5 retracement. Entry is placed at the bottom of the PRZ with a SL above 1.13XA and targets at .618CD and the missed weekly pivot.
Confluence in the PRZ:
Bearish bat pattern completion
2.5AB=CD
2.618BC projection
S/R Zone
RSI Overbought
Bearish MACD Divergence
Missed weekly pivot below price
Nota
Thank you to Jhakas who pointed out the 20 week EMA! It is confluent with the PRZ and may add to the resistance in this area:
Trade ativo
Trade Active: Short EURUSD at 1.09665
Trade fechado manualmente
Trade closed manually due to Bullish close above PRZ/EMA. Will look for possible re-entry later.
Trade fechado manualmente
Wrong chart:
Trade ativo
Active again manually, entry at 1.09675. Same SL and TP.
Nota
Beautiful drop! Half profit taken, +90 pips! SL moved to B/E for second half.
Nota
Trade is still active, 2 more bearish bats have completed on shorter TF's.
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