Euro / DollaroShort
Shorting the BAT // Friendly Risk/Reward setup ®
Taking the Adventurer Shot at EURUSD ;)
ATTENTION this is MY counter-trend trade setup... NOT A CALL, please do not regard as incentive!
Normally, trading against the trend has its consequences...
Targets for BAT pattern:
TP1 38.2% AD
TP2 61.8% AD
SL above previous structure highs;
Extremely Overbought on 4h chart, with an 80/20 RSI configuration, which assures me that we are facing a situation of extreme overbought or oversold... (to then create an entry "case" in lower timeframes);
Overbought on Daily chart,above the 80's, i will take a risk based on 4h chart and previous structure, and based on the Bat pattern completed last Friday evening.(Today, the price went slightly higher than expected for this Bat pattern, but stills a nice short opportunity taking it this pattern in consideration).
Safe trades;
* find a suitable entry point
EURUSD ;)ATTENTION this is MY counter-trend trade setup... NOT A CALL, please do not regard as incentive!
Normally, trading against the trend has its consequences...
Targets for BAT pattern:
TP1 38.2% AD
TP2 61.8% AD
SL above previous structure highs;
Extremely Overbought on 4h chart, with an 80/20 RSI configuration, which assures me that we are facing a situation of extreme overbought or oversold... (to then create an entry "case" in lower timeframes);
Overbought on Daily chart,above the 80's, i will take a risk based on 4h chart and previous structure, and based on the Bat pattern completed last Friday evening.(Today, the price went slightly higher than expected for this Bat pattern, but stills a nice short opportunity taking it this pattern in consideration).
Safe trades;
* find a suitable entry point
I am a financial market analyst based in Porto, Portugal. I provide market forecasts to a group of professional traders, playing a crucial role in assisting them in making well-informed decisions in the financial markets.
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