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

22 Ara 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 Ara 2015

Not

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 Ara 2015

İşlem aktif

Trade Active: Short EURUSD at 1.09665

22 Ara 2015

İşlem elle kapatılmış

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

22 Ara 2015

İşlem elle kapatılmış

Wrong chart:

22 Ara 2015

İşlem aktif

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

23 Ara 2015

Not

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

27 Ara 2015

Not

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

4 Oca 2016

İşlem kapandı: hedefe ulaştı

Traders who held - T2 Achieved: +174 Pips