Hi Traders, another pattern to keep on your radar for those who trade advanced patterns and also trade EURAUD.
Early prediction as always, we try to keep in front as much as we can. Still over 250pips away but as we know the markets can move and we miss them very easy.
I have marked a yellow Price Alert level so you can manage your trades easier, when you have found your entries or potential positions set yourself price alert so you don't need to keep looking back at the charts and watching the price.
This could provide a great opportunity, we see some other confluence in this area providing a better case or reason for entry.
We have the following
1. Advanced Pattern completion at D - 88.6% Fibonacci Retrace from our X to A move.
2. Previous Structure level very close to the 88.6% entry
3. We are also very close to the even handle psychological number 1.52000
4. There is also a major Fibonacci Extension 1.618% from our A to B move
As always Green is the entry zone
Minimum Stop level @ 1.113% below X leg
Targets as always adjusted when we have our D completion. Just below the 38.2% and 61.8% Fib Retrace from the C to D move.
Stops will need to be moved to break even when we have our Target 1 reached.
Happy trading and take care.
Early prediction as always, we try to keep in front as much as we can. Still over 250pips away but as we know the markets can move and we miss them very easy.
I have marked a yellow Price Alert level so you can manage your trades easier, when you have found your entries or potential positions set yourself price alert so you don't need to keep looking back at the charts and watching the price.
This could provide a great opportunity, we see some other confluence in this area providing a better case or reason for entry.
We have the following
1. Advanced Pattern completion at D - 88.6% Fibonacci Retrace from our X to A move.
2. Previous Structure level very close to the 88.6% entry
3. We are also very close to the even handle psychological number 1.52000
4. There is also a major Fibonacci Extension 1.618% from our A to B move
As always Green is the entry zone
Minimum Stop level @ 1.113% below X leg
Targets as always adjusted when we have our D completion. Just below the 38.2% and 61.8% Fib Retrace from the C to D move.
Stops will need to be moved to break even when we have our Target 1 reached.
Happy trading and take care.
