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

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
  

Commentaire:

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:

Transaction en cours:

Trade Active: Short EURUSD at 1.09665

Trade fermée manuellement:

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

Trade fermée manuellement:

Wrong chart:

Transaction en cours:

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

Commentaire:

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

Commentaire:

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

Trade fermée: cible de profit atteinte:

Traders who held - T2 Achieved: +174 Pips