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

٢٢ ديسمبر ٢٠١٥

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
  

٢٢ ديسمبر ٢٠١٥

ملاحظة

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:

٢٢ ديسمبر ٢٠١٥

تم فتح الصفقة

Trade Active: Short EURUSD at 1.09665

٢٢ ديسمبر ٢٠١٥

تم إغلاق الصفقة يدويًا

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

٢٢ ديسمبر ٢٠١٥

تم إغلاق الصفقة يدويًا

Wrong chart:

٢٢ ديسمبر ٢٠١٥

تم فتح الصفقة

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

٢٣ ديسمبر ٢٠١٥

ملاحظة

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

٢٧ ديسمبر ٢٠١٥

ملاحظة

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

٤ يناير ٢٠١٦

أغلقت الصفقة: تم الوصول للهدف

Traders who held - T2 Achieved: +174 Pips