2018May29 EURUSD M15 Possible Bearish Bat

29 May 2018

There is a possible bearish bat for EURUSD. Upon D completion at 1.16248 (88.6 of XA) and confirmation of the bearish bias, I will go short. Stop loss is placed just above point X. The take profit targets are set at the 38.2 and 61.8 Fibonacci retracement levels of leg AD and point A. Tentative trade details are as follows:

Trade Setup: Possible Bearish Bat
Price Entry 1.16248
SL 1.16395 | SL pips 14.7
TP1 1.15810 | TP1 pips 43.8
TP2 1.15540 | TP2 pips 70.8
TP3 1.15102 | TP3 pips 114.6
RRR1 2.22 | RRR2 3.59 | RRR3 5.82

31 May 2018

Not

This setup is canceled as there was no confirmation of the bearish bias at the potential reversal zone. (May 30)