This pair after the break of the descending channel is trading below a daily resistance.
The market after a series of lower low and lower high create a higher low.
How can i approach this scenario?
I will wait for a potential break of the resistance area and in that case i will look for a nice long order according to the Plancton's strategy rules.
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Here on FX:EURAUD is a very nice shorting opportunity. The price is entering the reversal zone which is a strong structure zone, look left for more confluence. We might see a double top and then fall down, or straight fall down. I prefer to wait the double top for more confluence, and then go short all the way down to the next structure levels: Target 1 and...