This is a bearish bat pattern completing on EURAUD.
Last week, price has touched the PRZ and price failed to close higher.
This morning, price started to drift lower with increase in volume breaking previous low.
I will personally be waiting for a retest of a resistance level before going short on this.
Likely a high probability setup.
EP: 1.5070
SL: 1.5120 (50)
TP: 1.4880 (190)
Will keep you guys posted.
Last week, price has touched the PRZ and price failed to close higher.
This morning, price started to drift lower with increase in volume breaking previous low.
I will personally be waiting for a retest of a resistance level before going short on this.
Likely a high probability setup.
EP: 1.5070
SL: 1.5120 (50)
TP: 1.4880 (190)
Will keep you guys posted.
Note
Updates.Previous idea to short at 1.5070 scrapped.
Will only be interested to short EURAUD above 1.51.
See chart below for new Shark Pattern Formation
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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.