EURAUD TL Breakout and short opportunity

The following scenarios would be validated by the breakout of the trendline and EMA 200 support ( somewhere below 1.57700 )

We have two patterns and they both got the confirmation of the MM calculations. 


By the breakout of the 1.57900, pair is likely to test 1.57700 trend line support. If it breaks below the trend line, at 1.57470 we have bullish bat pattern for a minor retracement – means that the price retest the trend line – .

Break below 1.57470 will carry the price 1.56860 where a possible bullish Gartley completion.

Both levels are confirmed by the MM Lines calculations as described in the chart.

So our trade will be short targeting 1.57470 and 1.56860. If the setup works as predicted, we will look for a long opportunity at 1.56860 for a bigger retracement.