EURAUD- Sell Opportunity On The retracement of 61.8% Fib level!!

FX:EURAUD   Euro / Australian Dollar
- A very decent set up for the coming week.
- We can see how price as reacted to the 61.8% fib level and we see a strong bearish candle confirmation that bears are in control.
-A Confluence for this pair is that the supply zone is line with the 61.8% level which shows that price reacts well to the level and more confirmation that price would retrace once it has reached.
- Another confluence is the 50EMA which is above price indicates that this pair is in bearish territory and we are looking for bearish signals.
Drop down to the lower time frame and enter at a strong bearish candle to enter.
This should be a very good set up with a possible to risk to reward of 1:3 or higher when price hits TP.


Great work!
+1 Reply
LDForex_ Wicktator
@Wicktator, Thank you!
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