GasperiniGS

Structure analysis on EURUAD

FX:EURAUD   Euro Fx/Australian Dollar
30 0 3
4 months ago
We were in a downtrend, and we tested major daily support making New Structure Highs. The market have moved sideways after that.

STORY (I learned this from my mentor, Akil Stokes, and I find it very useful):
I see "level 1" like if it were the main war zone between bulls and bears. If the bears win and we see a move lower, I would expect that the bears were tired from the battle (Over sold) and needed a place to rest (Previous structure).

While backtesting the 2618, 2618 that completed on setups like this one had a high win%. However, that was just an eye test; I could be extremely wrong. I am just practicing my technical analysis skills.
4 months ago
Comment: We arrived to the killzone with a nice ABCD pattern, yet we did not get a double bottom before it retraced back to where targets would have been. Moreover, I do not feel comfortable fighting that structure level and aim for higher targets.
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