EURAUD - No shorts before it hits 1.4790

FX:EURAUD   Euro Fx/Australian Dollar
Hey traders, this is my updated view on EURAUD             .

Last week, I posted a bearish shark which completes at 1.46.

Over the weekend, I re-analyzed my charts and realized that a better shark completes around 1.4790 instead.

This better chart aligns much nicer with the H4 equal distance channel ( Parallel channel ).

We will be in for a volatile week ahead with the US presidential election, I will always favor the bigger TF patterns over the lower TF patterns to be safe.

Watch for price to hit 1.4790 -1.48 before thinking of going short on this.

Do not enter with a pending order, this setup might not completes this upcoming week, it is totally fine to be patient.

EP: 1.4790
SL: 1.4850 (60)
TP: 1.4510 (280)

Will keep you guys updated in this space here.

Thank you for reading my postings.
Order cancelled: This is the reason why you should not use pending orders, more so if a major news event is near.

Price just bashed through PRZ.

You would have hit SL if you used a pending order to enter this trade.

Good learning point!
very good suggestion
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