A trade im looking to take this week in the EUR/AUD pair
on the daily chart we have a bearish pin bar which i use as a daily bias
zooming down to the H1 chart we have a head & shoulders pattern confirming my bearish bias
im looking to get short on the retest on the neckline 1.4800
as you can see there is still a open gap which im looking for price to fill so ...
Looking to short around 1230 on a pullback to this area highlighted with the blue box previous support also confulence with 38.% fib
Target in mind is D1 support around the 1220 handle i will be watching price close once it gets to this level if it breaks i will add to my position on the retest looking for targets down at 1200
i will be cautious though ...
looking to get short around the 1250 handle in gold beautiful level prior support also 50% fib confluence lines up nicely
stops above the thrust candle that broke the support around 1260
target is down at previous structure highs around 1220
although i will be keeping a eye at the FTA around 1232 see how price reacts maybe close half of my position ...