Euro / U.S. DollarShort
2018May14 EURUSD M15 Bearish Bat
EURUSD has been on a recent uptrend amidst a longer term downtrend. With the completion of a bearish bat, I see a continuation of the downtrend and an opportunity to short. Price entry is based on a candle close of 1.19818 which closed lower than the previous 11 candlesticks in an apparent sideways movement. Stop loss level is just above the X point while profit targets are at the 38.2 and 61.8 Fibonacci retracement of the AD leg and the A point.
Trade Setup: Bearish Bat
Price Entry 1.19818
SL 1.20307 | SL pips 48.9
TP1 1.19297 | TP1 pips 52.1
TP2 1.18887 | TP2 pips 93.1
TP3 1.18224 | TP3 pips 159.4
RRR1 1.07 | RRR2 1.90 | RRR3 3.26
Status/Remarks: TP1 hit!
Trade Setup: Bearish Bat
Price Entry 1.19818
SL 1.20307 | SL pips 48.9
TP1 1.19297 | TP1 pips 52.1
TP2 1.18887 | TP2 pips 93.1
TP3 1.18224 | TP3 pips 159.4
RRR1 1.07 | RRR2 1.90 | RRR3 3.26
Status/Remarks: TP1 hit!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.