shah-n

Potential Bullish Bat on EUR/USD

Long
OANDA:EURUSD   Euro / U.S. Dollar
Hi Everyone, hope you all had a lovely weekend. Thought I will quickly shoot this on Tradingview, If you look at the 4 hr some will notice that we had a breakout of a bullish flag pattern. Now personally I don't trade this pattern but I can use it as a confluence. For breakout traders they will be waiting for a retracement to go long, me, on the other hand, is looking to get involved in the 60 min timeframe. If price retraces back to previous resistants now support, we have a potential bullish Bat completing at 1.2260. Conventional targets at 38.2 & 61.8 retracement.

I can also get involved using the FSCT1 at that level if price action presents itself with bullish evidence.

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.