FX:EURAUD   Euro / Australian Dollar
Market reached key resistance zone around 1.4575 and formed double top .

Price broke and closed below the double top's neck. Potential 2618 setup is on the card. RSI is showing bearish divergence.
This idea was invalidated as the swing low was taken out.
Reply
Awesome! Thanks Casey!
Reply
Casey_Yeo veronica75
You are welcome. Please make sure this fits your plan and strategy before taking it.
Reply
Hello Casey, Thanks for the idea. What would be the target?
Reply
Casey_Yeo veronica75
Depends on your personal style and comfort level. Few possible areas for target 1. First option, move SL to BE after price gives 1:1 RR. Second option, move SL to BE after price hit 1.4480 (recent swing low, provided it is not taken out before reaching 61.8% retracement). You can also decide to take half your position off when target 1 met OR just keep everything on. Usually target 2 will be 127.2% fib extension taken from swing high to swing low. If you look at the chart above, 127.2 (end of arrow head) coincides with a support zone.
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out