FXPhantom
Short

Short $EURAUD idea. 1.55 held, H&S forming, EUR shall weaken.

FX:EURAUD   Euro Fx/Australian Dollar
110 3 2
Very important 1.55 level seemed to hold and nice H&S pattern is forming (check 1H chart). The D point of the potential Gartley pattern has not been reached (which was my ideal short entry point), but as 1.55 is so important it is not really a surprise. Go short on H&S neckline break (blue horizontal line) or wait for the trend line break wich will be additional confirmation. Set stop loss above the recent highs. The target is initialy 1.503 - a decent support.

Happy trading!
rvforte840c
2 years ago
nice Gartley. plus, the level in which it completes is a very strong LT resistance. 1.5660 should be very strong.
Reply
FXPhantom
2 years ago
Ok, we're in :)
Reply
FXPhantom
2 years ago
It was a very nice call. I am still bearish. The further move lower is what I'm expecting to happen.
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