There is a possible bearish bat for EURUSD. Upon D completion at 1.19407 (88.6 of XA) and confirmation of the bearish bias, I will go short. Stop loss is just above point X. The take profit targets are set at the 38.2 and 61.8 Fibonacci retracement levels of leg AD and point A. Tentative details are as follows:
Trade Setup: Possible Bearish Bat
Price Entry 1.19407
SL 1.20011 | SL pips 60.4
TP1 1.17762 | TP1 pips 164.5
TP2 1.16747 | TP2 pips 266.0
TP3 1.15102 | TP3 pips 430.5
RRR1 2.72 | RRR2 4.40 | RRR3 7.13
Trade Setup: Possible Bearish Bat
Price Entry 1.19407
SL 1.20011 | SL pips 60.4
TP1 1.17762 | TP1 pips 164.5
TP2 1.16747 | TP2 pips 266.0
TP3 1.15102 | TP3 pips 430.5
RRR1 2.72 | RRR2 4.40 | RRR3 7.13
Order avbruten:
This setup is invalidated as price did not reach 1.19407 (88.6 of XA) in the recent swing high. (June 14)