Starting on the daily, we can see we have broken on the downside of a symmetrical triangle pattern and are now retesting the support turned resistance. We can also see a down channel forming of which we are testing the could be resistance (need a solid rejection to confirm confluence)
Moving onto the hourly, we can see an up channel has formed and...
Looking to sell from sell area one and take profit at area one (potential 30 pips)
Enter on price action and reversal candle,
Trade at your own risk and Trade safe.
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Starting with the monthly chart, we can see we have just broken the support of a symmetrical triangle pattern.
Moving onto the weekly chart, we can see we have just been rejected by the retest of the support turned resistance of the previously mentioned symmetrical triangle.
We can also see we have formed a bear flag...
GOOD AFTERNOON TRADERS. WE HAVE A NICE SETUP HERE ON EURAUD WITH A GREAT RR, IF YOU LOOK TO THE LEFT SHOULDER YOU WILL SEE THE POTENTIAL FOR THE RIGHT TO MIRROR IT. STRONG CONFIRMATIONS FOR THIS TRADE SO WE WILL SEE HOW THIS PLAYS OUT. GOOD LUCK!
I believe the EUR/USD price will continue to fall, retest to around 1.103 and then restart its bearish trend. I will be placing a SELL trade at the 1.10250 mark, just below the previous high (1.10325), and another at 1.10300.
I have put my STOP at 1.11000. This is in case the higher trend is tested (dashed dark blue line).
My initial take profit is around the...
Monthly and Weekly charts demostrate strong down trend. Daily and 4 hr chart indicate weakening buy signal and retest of previous 4hr lows at 1.108. Waiting for break and retest of current low (1.1) to execute sell trade.