Bullish Bat Euro/Lira

١٥ فبراير ٢٠١٧

Since October this pair has entered into an aggressive uptrend! Price is moving in a bat formation, heading towards our PRZ. As per natural behaviour, price may enter slight consolidation at the PRZ before continuing with the original trend; I will be looking for an entry asap once the C-D wave is complete. 1st and 2nd Take Profit levels at 38.2% and 61.8% respectively of the distance from A-D. Stop loss slightly behind the X coordinate.

Bat Ratios:
AB: 0.382-0.5
BC: 0.382-0.886
CD: 1.618-2.618
XD: 0.886