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.