CW14 EA Long
Updated
CW14 Fundamentally we expect a dovish RBA on Monday night while EUR will have a quiet week.
EA has been in a long term downward channel with multiple LH LL however price has recently broken out and has formed a wedge, we expect an impulsive breakout due to the wedging pattern and the decreasing volume as well.
We look to enter this trade optimally at 23.6%, there is a potential that it might be too late as 23.6% has already been visited.
EA has been in a long term downward channel with multiple LH LL however price has recently broken out and has formed a wedge, we expect an impulsive breakout due to the wedging pattern and the decreasing volume as well.
We look to enter this trade optimally at 23.6%, there is a potential that it might be too late as 23.6% has already been visited.
Note
*RBA on Tuesday Afternoon GMT+8Note
AC showing signs of weakness with LH LL on 30m, bias might be towards the downside if price doesn't make new highs soonNote
can't seem to find proper confluences from zoomed out market structure, might not be taking this trade this week
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