EURAUD is giving us a nice opportunity to sell the market.
After completing a large ABCD pattern, and reversing from resistance, a bearish continuation pattern is forming.
We have a nice bear flag (blue) along with a partially formed head and shoulders pattern.
The smaller BC impulse found resistance at the .618 retracement of the AB leg + structure.
Target: If we project the AB leg from the C point, our D point target correlates nicely with support looking left. This area also has confluence with the 1.272 and 1.414 extension of the AB impulse leg.
Goodluck!
After completing a large ABCD pattern, and reversing from resistance, a bearish continuation pattern is forming.
We have a nice bear flag (blue) along with a partially formed head and shoulders pattern.
The smaller BC impulse found resistance at the .618 retracement of the AB leg + structure.
Target: If we project the AB leg from the C point, our D point target correlates nicely with support looking left. This area also has confluence with the 1.272 and 1.414 extension of the AB impulse leg.
Goodluck!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.