Get started
glennmercer

EURUSD Short: 3 Bats Align in Tight PRZ at TL Resistance

Short
Euro / U.S. Dollar (FX:EURUSD)  
glennmercer Updated   
FX:EURUSD   Euro / U.S. Dollar
EURUSD euro glennmercer gmercerfx S/R PRZ confluence Bearish Bat Bat Pivot Points pivot missedpivot missedpivots Weekly Pivots rsi_divergece Relative Strength Index (RSI) macd_divergence Moving Average Convergence / Divergence (MACD)
13
4
eurusd euro glennmercer gmercerfx s_r prz confluence bearishbat batpattern pivotpoints pivot missedpivot missedpivots weeklypivots rsi_divergece relativestrengthindex macd_divergence macd
Yesterday I published a EURUSD short on a bearish bat pattern. The bat has hit TP1 and is retesting the PRZ. If you missed the trade, this is a great opportunity to enter. A rare opportunity has presented itself where 3 bat patterns have aligned within a very tight reversal zone. The PRZ aligns with trendine touching the X points which may add resistance in this area. We also have very strong bearish RSI and MACD divergence with RSI being overbought as well. Target is placed at the bottom of the PRZ with SL at 1.13XA (yellow bat) and TP at the missed weekly pivot and .5 Fib level.

Confluence in the PRZ:
  • Bearish bat (240m)
  • Bearish bat (60m)
  • Bearish bat (15m)
  • Bearish MACD divergence
  • Bearish RSI Divergence
  • RSI Overbought
  • Missed weekly pivot below price
Trade active:
Entry triggered - trade is active.
Trade closed: stop reached:
-11 pips

Related Ideas

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