EA short looks good here. We have seen 1 rejection from the purple box area marked showing us it is respecting the 38.2 fib level as well as the descending trend line and 50 EMA. I'm looking to take this short down to the 61.8 fib level if we see further rejection from the purple box region.
350 PIP GAIN 6/1 RR
We are going down under. As you can see price is nearly at a key daily and monthly level and we can only see downside bearish movement IF price enters our resistance zone again... we will be waiting for price to enter this zone before taking a trade though... be patient and if price drops now from where it is before entering our zone and you miss the trade so...
LOoking at EUR AUD we can see it spiked up heavily yesterday but shortly after the bearish momentum took over making price go back to the triple top and test it but shortly broke and we saw a drop of 60 pips+ inches from our 80 pip take profit but once we hit we'll look at entering again for the next target.
TP : 1.59400
Break and retest of TL, nice rejections from the 0.618 which confluences nicely with a supply zone. Head and Shoulders formation on lower tf's which is a nice confluence for our sell, as well as divergence on the 30m RSI. SL an ATR above the wicks and TP is aiming for a retest of the lows.
i've been looking at this pair over the last days, and it finally turned into a trading opportunity right now. The blue zone is a structure zone in which price has lately been very sensitive and it's also been a zone in which price has gone overbought on the 4hr chart, also creating a short candlestick with an engulfing candle. Moreover, on the hourly...
EURAUD - Daily time frame. I was anticipating a reversal pull back on this pair for a few weeks and now i can see this pair and euro pairs falling into a corrective structure on daily time frames. After this big corrective move I see further strength in euro pairs and another extension/impulsive move to the upside on weekly time frame.
EurAud - H4 chart - I prefer shorts due to the current H4 structure which shows many confluences for downside including a H&S pattern, retest of trend lines and supply zones and a fib retracement with targets down to the next H4 support. Decent Risk to Reward on this trade.
here as you can see on the left we've just completed a Bat formation, and also, price is in overbought condition. These two elements, along with the structure, make me think it could be the starting point of a reversal.
As of now, on the hourly chart, price is creating a double top with RSI divergence. Let's see how the current candle close in order to...