Is it time for EUR AUD to presume its downtrend?
Months ago I had a couple of successful trades with this pair, until recently as the pair started making an uptrend.
Seems like its time to continue to the downside. Market at Daily resistance zone, rejecting the zone on 1 hour timeframe with some wick rejections. RSI divergence at the zone. Retail sentiment strong bullish (most retail traders lose money). According to www.tradingeconomics.com fundamental data not that much different. Market still within daily ABCD swing. Future daily fib target at price 1.35771
Waiting for counter trend break bearish on 1 Hour timeframe, and will be selling counter trend breaks bearish towards future daily low.
stop loss above market structure,
take profit 3x risk
lot size 0.2 / 0.5
May turn to 5 minute timeframe for potential scalping opportunities on the lower timeframe on the way down.
Lets see how this turns out...
Months ago I had a couple of successful trades with this pair, until recently as the pair started making an uptrend.
Seems like its time to continue to the downside. Market at Daily resistance zone, rejecting the zone on 1 hour timeframe with some wick rejections. RSI divergence at the zone. Retail sentiment strong bullish (most retail traders lose money). According to www.tradingeconomics.com fundamental data not that much different. Market still within daily ABCD swing. Future daily fib target at price 1.35771
Waiting for counter trend break bearish on 1 Hour timeframe, and will be selling counter trend breaks bearish towards future daily low.
stop loss above market structure,
take profit 3x risk
lot size 0.2 / 0.5
May turn to 5 minute timeframe for potential scalping opportunities on the lower timeframe on the way down.
Lets see how this turns out...
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Market broke resistance
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