Price has rejected a recent swing high - creating a double top.
Price action showing all signs for a short (sell). Loss of momentum, double top, reversal price action patterns etc!
Analysis is supported across multiple time frames.
EURAUD made a short bullish run before forming a sidewards structure. Inside this structure is a head and shoulder pattern that is forming nicely.
Short trades are on the lookout as price is dropping our support line, we shall wait for price action to confirm our trade.
Specifically looking for a breakout and a continuation of our downtrend from the shoulder...
Hi All , opening our first sell on this pair . First entry marked & Sl . We will move sl into entry when price move 30pips in our direction, as on this pair there’s a possibility of price moving higher to our second point of selling hence sl to entry as soon as price move 30pips in our direction. Mini swung & high spread so day traders be cautious.
price currently on neckline, breaking out of this area i doubt will be straight forward , 1 of two things , price will retrace back to resistance showed on chart and break downwards (where the first sell might take place) , if price breaks neckline immediately, initiate sell , smart stops should be placed , a bit above neckline so you don't get stopped out...
NZD is performing quite well rn , obviously that is a not a good enough rationale on its own for entering this on a sell
sweet price resistance , price has already broken out of support and is retesting making for resistance , (SELLS DROP LIKE A MF ALWAYS, absolutely love it)
just looking at the chart , no news so i couldn't tell you whats what there , but i just...