Hello, traders!
Today, we are looking at a bearish bat on the 1D chart with EUR/USD.
Price made its way to D point last week and has been stalling for a few days. With the market opening back up just barely in profit, this trade is looking good to enter!
For fundamental confluence, today being a holiday (Memorial Day), we should see the USD gain strength.
Risk/Reward Ratio - 1:4
The measurements for a valid bat pattern are detailed below.
B: 0.382 - 0.50
C: 0.382 - 0.886
D: 1.618 - 2.618
Final X to D: 0.886
Today, we are looking at a bearish bat on the 1D chart with EUR/USD.
Price made its way to D point last week and has been stalling for a few days. With the market opening back up just barely in profit, this trade is looking good to enter!
For fundamental confluence, today being a holiday (Memorial Day), we should see the USD gain strength.
Risk/Reward Ratio - 1:4
The measurements for a valid bat pattern are detailed below.
B: 0.382 - 0.50
C: 0.382 - 0.886
D: 1.618 - 2.618
Final X to D: 0.886
