An obvious bearish triangle is forming on the EURAUD 4H Chart.
Price is likely to move within the triangle and attempt to break out of it in a downtrend before being rejected by the first key support.
Price may then bounce back up and hit the triangle's resistance before going bearish once again.
I'll probably take a short position in a smaller timeframe when I get confirmation of a bearish trend.
Thank you for reading and happy trading!
Disclaimer:
I am not a professional trader, financial/investment advisor, broker and/or dealer. The idea above is strictly based on my opinion and should only be used for entertainment/educational purposes only. Do conduct your own due diligence and do not act solely based on any information conveyed in this Trade Idea.
Price is likely to move within the triangle and attempt to break out of it in a downtrend before being rejected by the first key support.
Price may then bounce back up and hit the triangle's resistance before going bearish once again.
I'll probably take a short position in a smaller timeframe when I get confirmation of a bearish trend.
Thank you for reading and happy trading!
Disclaimer:
I am not a professional trader, financial/investment advisor, broker and/or dealer. The idea above is strictly based on my opinion and should only be used for entertainment/educational purposes only. Do conduct your own due diligence and do not act solely based on any information conveyed in this Trade Idea.
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.
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.