On the EUR.USD Monthly chart we have a potential long opportunity's at the D leg completion of bullish Bat setup.
The price reversal zone on this pair is between .9077 & .8218 The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Bat setup placed at the .382% and .618% retracement of the A to D move. There is also an opportunity to look for extended targets at 1.4500 Stop loss would be placed below X leg structure support .
Target 1 - 1.1737 Target 2 - 1.3374
Komen
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Please note: Although we don't trade the monthly chart, we have to be aware of its overall direction, which is one factor many neglect in their trading plan.
@bencarvill, 74% verified by Myfxbook.
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hpter
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trading in direction with the overall trend is one of the most important strategy in swing trading. Well said @tomhall