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
  

Comment:

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:

Trade active:

Trade Active: Short EURUSD at 1.09665

Trade closed manually:

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

Trade closed manually:

Wrong chart:

Trade active:

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

Comment:

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

Comment:

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

Trade closed: target reached:

Traders who held - T2 Achieved: +174 Pips