EURUSD > Getting Ready to Pounce on the Bullish Bat Pattern!
Welcome traders,
The EURUSD has recently broken its daily resistance level and the trend appears to be strong to the upside, or at least that is my bias. If the market comes down to test the strong demand zone, we will have a bullish harmonic bat pattern completing at the same level. This provides us with a good reason to consider a buy entry.
To trade this setup, we can look for confirmation on the lower timeframes before committing to an entry. A stop loss could be placed below the demand zone, while profit targets could be set at the next resistance levels.
Don't forget to follow and like for more updates on this trade setup.
Happy trading!
The EURUSD has recently broken its daily resistance level and the trend appears to be strong to the upside, or at least that is my bias. If the market comes down to test the strong demand zone, we will have a bullish harmonic bat pattern completing at the same level. This provides us with a good reason to consider a buy entry.
To trade this setup, we can look for confirmation on the lower timeframes before committing to an entry. A stop loss could be placed below the demand zone, while profit targets could be set at the next resistance levels.
Don't forget to follow and like for more updates on this trade setup.
Happy trading!
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.