EURAUD price is forming the Falling wedge pattern (Expected reversal)
- A double bottom appeared in the minor structure.
- Up-trust of the price after it touches support, breaking the minor structure to the upside. *To be clear, price may go to the upside, wait for it to break the higher price structure, and it didn't make the lower low*
- The Rebound of the...
So, this trade I'm using the Confluence Zone.
(The trend of the weekly TF is still in a down trend, but in the hourly it's in an uptrend.)
- But last week, the price broke the structure to the downside (leaving the supply zone). So, this plan will play along with the smaller TF trend.
- The price forms the rising wedge pattern.
- I'm using the Fibonacci tool...
This Idea came from using The Demand Supply Zones and RTM *Reasons Below*
Information in this trading Idea
- In Daily TF USDCAD from the Flag Pattern to the Up-side.
- The recent supply zone can't push the price down because it's reaching its minor resistance and the price doesn't make the higher high position.
- The information above is a sign of the Bull's...
So, In this trade, I was using the RTM and Fibonacci tool
- I found the QM level (Sign of Trend changing to the Down-trend)
- Using Fibo's level to confluence the zone
- Supply Zone that broke the structure
- The compression of the price that going to reach the supply zone
*Notice - Wait for Confirmation to enter the trade (Divergence or Price action in Lower TF)
I found this trade using the Confluence Zone
- There is the Resistant before the price went down
- Supply Zone that Breaks the structure to the Downside (Mini QM level)
- Using a Fibonacci tool to find the POI (Measuring the range of the price)
Enter the trade using RSI Divergence
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Waiting for The market reaction (Follows the plan)
