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EURAUD is sitting around a daily resistance in blue we will be looking for sell setups on lower timeframes.
on H4: EURAUD is forming a wedge pattern in red but the lower trendline is not valid yet, so we will be waiting for a third swing to form around it. (projection in purple)
Trigger => Waiting for that swing to form then sell after a momentum candle close below it. (gray area)
Until the sell is activated, EURAUD would be overall bullish and can still trade higher.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
EURAUD is sitting around a daily resistance in blue we will be looking for sell setups on lower timeframes.
on H4: EURAUD is forming a wedge pattern in red but the lower trendline is not valid yet, so we will be waiting for a third swing to form around it. (projection in purple)
Trigger => Waiting for that swing to form then sell after a momentum candle close below it. (gray area)
Until the sell is activated, EURAUD would be overall bullish and can still trade higher.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
This analysis is done using RichTL
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www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Buy CRGPT on Uniswap
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