nakedchartist
Short

EURAUD 3 day bull trap potential Double Top for trend resumption

FX:EURAUD   Euro Fx/Australian Dollar
A potential DT is forming now and it is encapsulated within a flattish channel.
This channel has a macd divergence as well.
However I do not wish to take action only after the DT is formed. By then SL pip risk will be about 200 pips.
Looking for retest at 4371 is more feasible and allows pip risk to be minimized.
Tp1 at neckline
Tp2 will be lower if this DT materializes.
nakedchartist
2 years ago
retest is not good.
Reply
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