EURAUD has been in a clear downtrend since October 2020. This trend is quite clear from the daily timeframe to 4hr and 1hr. Price pulled back and broke our of the down trend breaking my resistance trendline however it failed to takeout the previous lower high and retreated back to close below the resistance trendline. I have adjusted my trendline to the new lower high.
I had a support trendline for the pullback on this sell and it has been broken confirming that I can get back into the sell. Price created a support level before it broke my support trendline. I am waiting for a pullback to that level and a reversal pattern for me to enter on this pair.