EURAUD-H1-to continue the main down trend

FX:EURAUD   Euro / Australian Dollar
219 9 3
Nice area to join the main down trend.
We have the price bouncing from the trendline resistance and formed and AB=CD pattern.
The RSI shows also a bearish direction.

Best regard.
Has same thoughts on the downside, but now looks more to the upside
HiTech HiTech
besides, do you see inverse head and shoulders?
RayyanAljohani RayyanAljohani
Thanks for sharing. Can this be alternative scenario?
FullTimeTrader TradeYodha
I was stopped out, i will try to reenter near 1.400. I saw your post before but i think the cypher pattern is not valid. As i know the C point must close a candle below 1.27 .....
TradeYodha FullTimeTrader
Ok. Thanks mate. There are other factors too in that zone.

I have been testING with this alternate cypher where c point can be between 111.3 and 141.4 so far 4 tests have been successful but that may be just coincidence. I will back test it more
Hello FullTime ProTrader,

On this scenario, the resistance area is a flip zone?

nice area of confluence. thanks for sharing.
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