Trade Plan (Live): I sold EUR/AUD at 1.6604
EUR Basket - the basket has reached the resistance zone of 595-596. I am looking for a reaction to the downside.
AUD Basket - the intraday chart offers a bullish bias. I am looking for a move higher within the CD leg of a Gartley formation.
Correlation studies suggest a sustained move to the downside in EUR/AUD.
EUR/AUD - the daily chart highlights the cross moving higher within the BC leg of a Bat formation. This pattern will be completed at 1.4610 (TP2)
The 8-hour chart highlights a possible Gartley formation at 1.6262 (TP2). I am looking for a move to the downside in the CD leg.
The one-hour chart highlights a complex corrective formation within an ending wedge formation. A break of the trend of higher lows at 1.6492 will confirm the bearish momentum.
I sold EUR/AUD at 1.6604
SL: 1.6265
TP1: 1.6686
TP2: 1.4615
Risk/Reward Ratio of 4.13R
#tradeplan #EUR/AUD
AUD Basket - the intraday chart offers a bullish bias. I am looking for a move higher within the CD leg of a Gartley formation.
Correlation studies suggest a sustained move to the downside in EUR/AUD.
EUR/AUD - the daily chart highlights the cross moving higher within the BC leg of a Bat formation. This pattern will be completed at 1.4610 (TP2)
The 8-hour chart highlights a possible Gartley formation at 1.6262 (TP2). I am looking for a move to the downside in the CD leg.
The one-hour chart highlights a complex corrective formation within an ending wedge formation. A break of the trend of higher lows at 1.6492 will confirm the bearish momentum.
I sold EUR/AUD at 1.6604
SL: 1.6265
TP1: 1.6686
TP2: 1.4615
Risk/Reward Ratio of 4.13R
#tradeplan #EUR/AUD
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.