Potential for Renko Bat pattern reversal for a short position.
Criteria
1. Price to be contained by recent resistance level of 1.57 35.
2. 2 Short (Red brick) bars to have formed.
3. Confirmation short brick close is ideally below the 8 EMA.
Entry between 1.56 50 and 1.57 00 (PRZ).
Stop Loss 1.57 40 ( above X)
Target 1 @ 1.54 30. ( 50 fib CD) . 2.4 R.
Target 2 @ 1.52 10. ( C) . 4.8 R.
Criteria
1. Price to be contained by recent resistance level of 1.57 35.
2. 2 Short (Red brick) bars to have formed.
3. Confirmation short brick close is ideally below the 8 EMA.
Entry between 1.56 50 and 1.57 00 (PRZ).
Stop Loss 1.57 40 ( above X)
Target 1 @ 1.54 30. ( 50 fib CD) . 2.4 R.
Target 2 @ 1.52 10. ( C) . 4.8 R.
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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.