Tea-cup pattern - yes its a real tradable pattern!

FX:EURAUD   Euro Fx/Australian Dollar
84 0 2
So a tea cup as I call it has formed. What is it? Well, a clear reversal has occurred from the recent lows and you usually get a V shape or a quadratic curve like pattern and then a slight dip (the handle) before a change in the trend. In this case, I would say 90% of the pattern has completed to give me confidence that the trend is willing to pursue a bullish tone to this pair.

Await for a further retracement before entering a trade.

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