EUR/AUD - Prediction of price movement
Price hit the upward trendline and is fading around 1.6035.
The energy on the way up is over. Price is now bearish all the way to 1.5730.
The trendline game is a D1 game. The market has reached its end point. W1 players are going to force the D1 players to get stopped out by pushing down against D1 bulls.
This is the current downward rally to be expected.
Each D1 candle from 1.6072 till 1.5730 are going to close down (red).
I would suggest you try to find a way to get in the bearish swing on H4 or H1. This tutorial is for direction purpose only.
As a D1 player, placing an entry @ 1.6030 with a 1 ATR SL, I would be expecting to achieve 6RR (6$ profit for 1$ loss).
The energy on the way up is over. Price is now bearish all the way to 1.5730.
The trendline game is a D1 game. The market has reached its end point. W1 players are going to force the D1 players to get stopped out by pushing down against D1 bulls.
This is the current downward rally to be expected.
Each D1 candle from 1.6072 till 1.5730 are going to close down (red).
I would suggest you try to find a way to get in the bearish swing on H4 or H1. This tutorial is for direction purpose only.
As a D1 player, placing an entry @ 1.6030 with a 1 ATR SL, I would be expecting to achieve 6RR (6$ profit for 1$ loss).
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.