EURAUD - Potential Bearish Reversal!
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EURAUD is approaching a strong resistance in blue so we will be looking for sell setups.
on H4: EURAUD is forming a wedge pattern but the lower trendline is not valid yet, so we are waiting for a new swing low to form around it to consider it our trigger swing. (projection in purple)
Trigger => Waiting for that swing to form and then sell after a momentum candle close below it (gray zone)
Meanwhile, until the sell is activated, EURAUD would be overall bullish can still trade higher inside the blue resistance.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
EURAUD is approaching a strong resistance in blue so we will be looking for sell setups.
on H4: EURAUD is forming a wedge pattern but the lower trendline is not valid yet, so we are waiting for a new swing low to form around it to consider it our trigger swing. (projection in purple)
Trigger => Waiting for that swing to form and then sell after a momentum candle close below it (gray zone)
Meanwhile, until the sell is activated, EURAUD would be overall bullish can still trade higher inside the blue resistance.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Trading Made Simple; and Rule-Based
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram:
t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram:
t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
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