2018Jun08 EURAUD H4 Bearish Bat
There is a bearish bat for EURAUD. Upon 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. The trade details are as follows:
Trade Setup: Bearish Bat
Price Entry 1.55013
SL 1.55354 | SL pips 34.1
TP1 1.54148 | TP1 pips 86.5
TP2 1.53614 | TP2 pips 139.9
TP3 1.52749 | TP3 pips 226.4
RRR1 2.54 | RRR2 4.10 | RRR3 6.64
Trade Setup: Bearish Bat
Price Entry 1.55013
SL 1.55354 | SL pips 34.1
TP1 1.54148 | TP1 pips 86.5
TP2 1.53614 | TP2 pips 139.9
TP3 1.52749 | TP3 pips 226.4
RRR1 2.54 | RRR2 4.10 | RRR3 6.64
Note
This setup is invalidated with a candlestick closing above 1.55013 (88.6 of XA). (June 8)
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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.