Bearish Bat Pattern formed on 1 hour chart. Market is near the overbought zone. Stops can go 10 to 20 pips above the X point. We also see RSI divergence with ratio confluence of 161.8% and 88.6%.
Trade setup: 1. Choose position size lot based on your preference 2. Short at 161.8% retracement of AB leg (D point completion) 3. 1st target is 38.2% retracement of AD leg 4. 2nd target is 61.8% retracement of AD leg 5. Once 1st target achieved, move stops to break even