EUR/AUD Short with 6.7 R/R - range fakeout + bearish OB EQ
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Anticipating a potential Short with 6.7 R/R.
nEUR/AUD is approaching it's range-high. Daily-candle-high didn't engineer liquidity above our 6th of March high yet. For this reason I'm patiently waiting until PA confirms our higher-probability setup. If we don't get a strong reation off 1.61330 I believe a fake expansion out of our range while rejecting our first bearish OB and 0.618 Fib is likely.
Targetting for 1.56300 - 1.56650 while taking out lows + OTE.
Updating this analysis once PA confirms and price is approaching our higher-probability setup.
Anticipating a potential Short with 6.7 R/R.
nEUR/AUD is approaching it's range-high. Daily-candle-high didn't engineer liquidity above our 6th of March high yet. For this reason I'm patiently waiting until PA confirms our higher-probability setup. If we don't get a strong reation off 1.61330 I believe a fake expansion out of our range while rejecting our first bearish OB and 0.618 Fib is likely.
Targetting for 1.56300 - 1.56650 while taking out lows + OTE.
Updating this analysis once PA confirms and price is approaching our higher-probability setup.
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