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

Dec 24, 2015

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
  

Dec 25, 2015

Trade active

Entry triggered - trade is active.

Dec 28, 2015

Trade closed: stop reached

-11 pips