Art_of_Trading
Long

EURAUD: Cypher + Gartley

FX:EURAUD   Euro Fx/Australian Dollar
On FX:EURAUD             , there is no clear trend direction. It is hard to say 1H bars, who is control the trend, Bears or Bulls? There were short uptrend, but today's strong downward broke previous structure.

However, these set-up gives an opportunities for harmonic patterns . The 'small' Cypher Pattern appears, which can be sign to go long. Bulls have been controlling the price for few hours, but correction is expected soon, because Bulls (Sellers) need to get their profits and liquidate their positions. That means, they have to buy back. There is a high probability that the price will do its retracement at 1.5506 or near. Cypher gives a similar signal.

In addition, the potential Gartley Pattern gives an opportunity to go long. That strong downward to validate Gartley is not expected today, but I draw it for traders to keep in mind.
-----------------------------------------------------------------------------------------------------------------------------------------------------------

Do you Trade Binary Options? Profit up to 85% on a single Trade. We provide the best Binary Options Brokers List, Bonus - Trading Strategies for Free. www.binaryreviewed.com
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out