slindstr
Short

EURAUD - Potential Bearish Gartley or Butterfly

FX:EURAUD   Euro Fx/Australian Dollar
Remember that the ECB press conference is happening in < 8 hours so that might mess this up :)

We might have a big bearish gartley or butterfly forming on the EURAUD             ; we're at the AB leg completion with RSI looking overbought, so I'm hoping we fall down to support around 1.4152-ish to form our BC             leg, retracing after that to form our CD leg, which could complete @ 1.4480-ish or 1.4540-ish if it's going to be a gartley , or 1.4800-ish if it's going to be a butterfly .

For now I'm hoping to get a fill and sell short if we retest structure @ 1.4385-ish with a stop at 1.4420, which is right above upward resistance. Depending on how long it takes things to play out, I might flatten my position if it gets too close to EUR news...
slindstr PRO
2 years ago
Looks like this has turned into a cypher pattern - check out NicuoMuselle's chart for more info:
EURAUD - Cypher for trend continuation
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