Short EURUSD: Bat + S/R + Divergence + Overbought + Weekly Pivot

22 gru 2015

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
  

22 gru 2015

Uwaga

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:

22 gru 2015

Zlecenie aktywne

Trade Active: Short EURUSD at 1.09665

22 gru 2015

Zlecenie zamknięto ręcznie

Trade closed manually due to Bullish close above PRZ/EMA. Will look for possible re-entry later.

22 gru 2015

Zlecenie zamknięto ręcznie

Wrong chart:

22 gru 2015

Zlecenie aktywne

Active again manually, entry at 1.09675. Same SL and TP.

23 gru 2015

Uwaga

Beautiful drop! Half profit taken, +90 pips! SL moved to B/E for second half.

27 gru 2015

Uwaga

Trade is still active, 2 more bearish bats have completed on shorter TF's.

4 sty 2016

Transakcja zamknięta: osiągnięto wyznaczony cel

Traders who held - T2 Achieved: +174 Pips