EURAUD showing slight weakness for a short opportunity.
1Hr Bearish Engulfing and a 4Hr bearish engulfing.
This is also completed a three wave structure to commence the C wave.
Yellow Projection: Our preferred scenario to fall to the area of accumulation. Look for any sells through to this point.
Divergence between two peaks of RSI and we have the stochastic approaching the 50 line.
Teal Projection: Second scenario could break the prior A top then head south.
The risk: Keep your stops above blue A if you have the capacity otherwise $1.5830 for a nice tight stop on this short play.
1Hr Bearish Engulfing and a 4Hr bearish engulfing.
This is also completed a three wave structure to commence the C wave.
Yellow Projection: Our preferred scenario to fall to the area of accumulation. Look for any sells through to this point.
Divergence between two peaks of RSI and we have the stochastic approaching the 50 line.
Teal Projection: Second scenario could break the prior A top then head south.
The risk: Keep your stops above blue A if you have the capacity otherwise $1.5830 for a nice tight stop on this short play.
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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.