Look for EURAUD short trigger here

FX_IDC:EURAUD   Euro / Australian Dollar
EURAUD is inside shadow pre-identified in previous post. Goto back story for basis of this discussion.

The boundaries of current resistance/shadow zone are 1.5717 and 1.5618. Black candle last Friday is a price reaction or rejection to this zone.

Since today is up we have luxury to wait and see if another rejection in the daily chart . Window panel below shows CCI with period setting 14. CCI already touched and rejected 100. If there is a concurrent rejection of 1.5717 by price candle accompanied by another indicator rejection at CCI=100 then this could be trigger. SL would be placed above high of black candle last Friday of this a new high is created before the trigger appears.
Jun 24
Comment: If in doubt use Heikin Ashi trigger based on change of colour. Before candle changes colour it is usually preceded by candles that narrow. This should give ample warning.


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