Hello trader,
I hope your week has been profitable.
I want to highlight a classic bearish bat pattern I spotted on the EUR/AUD pair. The chart shows price rejection at point D around 1.61110, with the red zone indicating strong resistance between 1.61069 and 1.61244, which also serves as the PRZ (Potential Reversal Zone).
With additional confirmatory signals, entering a short position near the PRZ seems promising. I plan to place my stop loss slightly above the PRZ at around 1.61334 and set profit targets at 1.60756 and 1.60546.
Cheers!
I hope your week has been profitable.
I want to highlight a classic bearish bat pattern I spotted on the EUR/AUD pair. The chart shows price rejection at point D around 1.61110, with the red zone indicating strong resistance between 1.61069 and 1.61244, which also serves as the PRZ (Potential Reversal Zone).
With additional confirmatory signals, entering a short position near the PRZ seems promising. I plan to place my stop loss slightly above the PRZ at around 1.61334 and set profit targets at 1.60756 and 1.60546.
Cheers!
Nota
Stop taken out, while price came back to the entry zone. Trading is a business of probability. Nota
Liquidity was taken above the resistance zone, and afterwards, EURAUD did what we anticipated. 
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.